In Chapter 2 of Environmental Policies, the author discusses common pool resources and some of the challenges we face in sustainably managing these very important natural resources. One challenge comes from the fact that access to these resources by one person diminishes the ability of another person to use the resources concurrently. In addition, another challenge comes from the fact that it is almost impossible to limit the access to these resources. Consequently, sustainably managing these resources often requires approaches that are innovative, flexible, and adaptable.

Identify two common pool resources from the list below. Choose one that seems to be best managed by privatization and another that seems to be best managed through collective action. Explain why one resource is best managed by privatization and another through collective action. Use the concepts of rivalry and non-excludability to help support your arguments.

• International fisheries
• Aquifers
• Forests
• Atmosphere
• Oil
• Herds of elephants
• Ocean floor mineral deposits in international waters

Management of these common pool resources often creates ethical dilemmas for the resource manager. Select one of the following ethical principles and explain how it creates an ethical dilemma:

• Intergenerational equity
• Precautionary principle
• Sustainable development
• Polluter pays

Your initial post should be at least 250 words in length. Support your claims with examples from required material(s) and/or other scholarly resources, and properly cite any references.