Comment: A good example is public

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A good example is public

A good example is public grazing. If you owned the land you would have an incentive to take your animals off the land before they overgraze it so that the grass would regenerate and you would have future feed. But if its public, the you have no incentive to take your animals off because someone else's will just overgraze it and the land becomes as good as the least responsible participant. It's like a race to the bottom.