alt Hacker NewsMarkets allocate resources based on supply and demand. Individuals don’t demand solutions to diffuse problems. It’s tragedy of the commons every time.
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I think you have misunderstood the term "tragedy of the commons", which is a phenomenon distinct from a market failure. Also, "markets allocate resources based on supply and demand" is, I believe an oversimplification one should not carry beyond Economics 101. If that were sufficient to explain the totality of market behavior, especially at large scale, then the remainder of the discipline of economics need not exist.
How much money does a golf course bring in yearly? How onerous are the regulations?
How much money would a solar farm bring in yearly? How onerous would the regulations be?
Nice expression, but the book by the same name is fatally flawed in its science.
> Individuals don’t demand solutions to diffuse problems
Markets solve diffuse problems really well, people signal how much their section of the problem is worth solving and the market judges whether the overall problem can be solved cost effectively. Getting food to everyone is a diffuse problem for example.
Tragedy of the commons is different. Markets don't solve how to solve owning things in common and the usual market recommendation is not to do that.