So, you may wonder why I am warning about the overconsumption of a public good (i.e. financial stability), by GSC issuers. Simply put, the reason is that a wide use of stablecoins in a global scale could transform financial stability from a "public good" into a "common-pool resource."
A common-pool resource has the same feature as public goods in that it is available to all and cannot be withheld, even from people who do not pay for the resource. But unlike public goods, consumption by an individual or a group of individuals does reduce the resource's availability to others. 5 A typical example is fishery resources.