The Law of the Quotes

Once upon a time there was common land. All the villagers grazed one cow on it and all were happy. Then one villager got a second cow, and he was very happy. Envy descended and they all got a second cow. There was not enough grass for so many cows, and all were thin and yielded little milk, and all were unhappy; especially the cows. But no villager could afford to give up a cow, as one cow would not keep them alive. This is what economists call the Law of the Commons, where short-term maximisation for one leads to long-term poverty for all. Once upon a time insurers provided quotes...