At the end of the class on Monday September 17th, it was stated that the U. had difficulty giving up domestic interests for the good of the global economy. This may be true but according to the Adam Smith theory of thought, it's the way it should be. American people believe in capitalism are filled with capitalistic so it is no surprise that the rulers were influenced by it.
Even though Garett Hardin's article "The Tragedy of the Commons- focused on the population problem, I find that one can relate it to the intricacies of the global economy with little imagination. Economics is defined as, "the social science that deals with the production, distribution, and consumption of goods and services-. As "a finite world can only support a finite population- (Hardin 1243), our economic system can only consume a certain amount of goods and services since the world's resources are finite.
In a perfect world, all would live to fulfill Benham's goal, "the greatest good for the greatest number-. However, in reality, people or groups look out for themselves and certain members of their group before taking others into account. I certainly consider myself and my fiancé when dealing with others. Nor am I the only one, for the world is full of people like me who put their interests before those of others. Nevertheless, society does progress because a balance has been obtained betweens one's own self-interest and the good of the whole. This may take sacrifice but programs have been put in place to make "cooperating- more attractive. As is the case with the prisoner's dilemma, a prisoner must cooperate to gain the good of the whole. One can easily relate this analogy to economic relations; where all countries must work "collectively- for the common good. .
In conclusion, the expectation that others will disregard their own interests for the common good is unlikely. Based on what Joanne Gowa states in her work, "Public Goods and Political Institutions: Trade and Monetary Policy Process in the United States-, people who can reap the benefits without "cooperating- will "free ride-.
