Tragedy of the commonsThe tragedy of the commons is a metaphoric label for a concept that is widely discussed in economics, ecology and other sciences. According to the concept, should a number of people enjoy unfettered access to a finite, valuable resource such as a pasture, they will tend to over-use it, and may end up destroying its value altogether. To exercise voluntary restraint is not a rational choice for individuals - if they did, the other users would merely supplant them - yet the predictable result is a tragedy for all.
FarmerA farmer is a person engaged in agriculture, raising living organisms for food or raw materials. The term usually applies to people who do some combination of raising field crops, orchards, vineyards, poultry, or other livestock. A farmer might own the farm land or might work as a laborer on land owned by others. In most developed economies, a "farmer" is usually a farm owner (landowner), while employees of the farm are known as farm workers (or farmhands).
Property lawProperty law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual property. Property can be exchanged through contract law, and if property is violated, one could sue under tort law to protect it. The concept, idea or philosophy of property underlies all property law.
Personal propertyPersonal property is property that is movable. In common law systems, personal property may also be called chattels or personalty. In civil law systems, personal property is often called movable property or movables—any property that can be moved from one location to another. Personal property can be understood in comparison to real estate, immovable property or real property (such as land and buildings). Movable property on land (larger livestock, for example) was not automatically sold with the land, it was "personal" to the owner and moved with the owner.
ResourceResource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their availability — they are classified into renewable and non-renewable resources. They can also be classified as actual and potential on the basis of the level of development and use, on the basis of origin they can be classified as biotic and abiotic, and on the basis of their distribution, as ubiquitous and localised (private, community-owned, national and international resources).
Ordered logitIn statistics, the ordered logit model (also ordered logistic regression or proportional odds model) is an ordinal regression model—that is, a regression model for ordinal dependent variables—first considered by Peter McCullagh. For example, if one question on a survey is to be answered by a choice among "poor", "fair", "good", "very good" and "excellent", and the purpose of the analysis is to see how well that response can be predicted by the responses to other questions, some of which may be quantitative, then ordered logistic regression may be used.
Real propertyIn English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, roads, and other things. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes.
CommonsThe commons is the cultural and natural resources accessible to all members of a society, including natural materials such as air, water, and a habitable Earth. These resources are held in common even when owned privately or publicly. Commons can also be understood as natural resources that groups of people (communities, user groups) manage for individual and collective benefit. Characteristically, this involves a variety of informal norms and values (social practice) employed for a governance mechanism.
SmallholdingA smallholding or smallholder is a small farm operating under a small-scale agriculture model. Definitions vary widely for what constitutes a smallholder or small-scale farm, including factors such as size, food production technique or technology, involvement of family in labor and economic impact. Smallholdings are usually farms supporting a single family with a mixture of cash crops and subsistence farming. As a country becomes more affluent, smallholdings may not be self-sufficient, but may be valued for the rural lifestyle.
Resource curseThe resource curse, also known as the paradox of plenty or the poverty paradox, is the phenomenon of countries with an abundance of natural resources (such as fossil fuels and certain minerals) having less economic growth, less democracy, or worse development outcomes than countries with fewer natural resources. There are many theories and much academic debate about the reasons for and exceptions to the adverse outcomes. Most experts believe the resource curse is not universal or inevitable but affects certain types of countries or regions under certain conditions.
