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Why have private property when the air and water is not or cannot be privately owned?

Many of our environmental problems stem from 'the tragedy of the commons.' Air blows and water runs so how can we privatize it? Should we try? How might that work?

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  • Jan 21 2013: Tragedy of the Commons refers to any shared resource which is depleted by individuals that have only self interest motives. So if you understand this concept then one might theorize that private property is the antonym of a common resource. I believe it is safe to say our air and water an important shared resource. So can we privatise it? Should we? Any alternative ideas? I have my own ideas but I would like to hear others.

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