Garrett Hardin's 1968 essay "The Tragedy of the Commons" explores issues of environmental degradation caused by unlimited exploitation of limited shared resources for private gain. Using a parable of herders sharing a common pasture, Hardin illustrates how individually rational decisions to maximize private profits can destroy a shared limited resource. Unless restraint is exercised through rules, privatization, or social interdependence, the commons is vulnerable to tragedy. Examples include overfishing, pollution, deforestation, and population growth exceeding ecological limits.