Did Beef save the Cow???

A small excerpt from Gregory Makiw - "Principles of Economics"
Thoughout history many species of animals have been threatened by extinction.When Europeans first arrived in North America, more than 60 million buffalo roamed the continent.Yet, buffalo hunting became so popular during the 19th century that the species population fell drastically to just 400 before the government stepped in to protect the species.

Beef Saved me !!!

The cow is a valuable source of food esp.. in the western world but no worries that the cow will soon be extinct.Indeed, the great demand for beef seems to ensure that the species will continue to thrive.
Why does the commercial value of ivory threaten the elephant, while the commercial value of beef protects the cow??
The reason is that the elephants are a common resource, whereas cows are a private good.Elephants roam freely without any owner.Each poacher has a strong incentive to kill as many elephants as he can find.By contrast cattle live on ranches that are privately owned.Each rancher makes great effort to maintain the cattle population on his ranch because he reaps the benefits of these efforts.
Private ownership and profit motive on their side seems to be an effective tool to save the extinction of any species rather than any regulation put forth by the government.