People are reasonably good at estimating how things add up, but for compounding, which involved repeated multiplication, we fail to appreciate how quickly things grow.
Paul RomerRead
It is the job of government to prevent a tragedy of the commons. That includes the commons of shared values and norms on which democracy depends.
Interpretation
What this quote means
Governments must protect shared values and resources to uphold democracy and prevent societal collapse.
The quote by Paul Romer emphasizes the crucial role of government in safeguarding collective resources and societal norms. When individuals exploit shared resources without regard for the community, it can lead to a 'tragedy of the commons', resulting in negative consequences for democracy and society as a whole. Therefore, governmental intervention is necessary to maintain the balance and ensure the well-being of all.
Themes
GovernmentCommonsDemocracyValuesSociety
In practice
Example use cases
In a discussion about environmental policy at a town hall meeting.
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