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Sheep are not like ideas. 200 years ago, William Foster Lloyd began pointing out that if land is shared, ranchers will all have an incentive to overgraze their sheep–if they dont, the thinking goes, the others will. Each farmer expands until the commons is ruined. And this justifies the long process of fencing in land, because the owner of private property, its argued, will have an incentive to care for it.
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