It was appropriate for Meredith Whitney to title her latest 600-page report for her investment clients “The Tragedy of the Commons.” That title was borrowed from an article written in 1968 by Garrett Hardin and published in Science magazine, illustrating the ultimate failure of people hoping to live off the incomes of others eternally.

The Coming Third Trillion-dollar Bailout: The States

Bob Adelmann | The New American
29 September 2010