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Lloyd's pamphlet

In 1833, the English economist William Forster Lloyd published "Two Lectures on the Checks to Population", a pamphlet that included a hypothetical example of over-use of a common resource. This was the situation of cattle herders sharing a common parcel of land on which they were each entitled to let their cows graze.

He postulated that if a herder put more than his allotted number of cattle on the common, overgrazing

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