La Jolla playwright Stephen Metcalfe, author of “Strange Snow” and “Emily” among many others produced by the Old Globe, has returned to the stage following a long absence in Hollywood. The world premiere of Metcalfe’s “The Tragedy of the Commons” is produced by Old Town’s Cygnet Theatre and is the highly successful company’s first world premiere. Directed by Cygnet Artistic Director Sean Murray and featuring a fine company of local artists who clearly understand the material, the La Jolla-set “Tragedy of the Commons” is one man’s purification rite. Played by University of California, San Diego acting professor Jim Winker, Dakin Adams is a 60-year-old former teacher, long married to Macy (Veronica Murphy), mother of the couple’s two successful, middle-aged sons, Alan (Manny Fernandes), an attorney, and Spencer (Francis Gercke), a businessman. With an evocative set by Sean Fanning, lighting by Shawna Cadence, costumes by Corey Johnston and original music and sound design by George Yé, the production is as understatedly elegant as long-time Villagers. No longer teaching, Dakin rather obsessively occupies himself with a blog titled “Notes from Zone 10,” which refers to the latitude in which La Jolla is located. Macy walks the dogs and occupies herself in the garden, which overlooks the view so enjoyed and taken for granted. As with many older La Jolla homes, the house itself is not much, though Macy has a talent for décor. The view is priceless. Dakin and Macy have suffered grievous loss, and now their longtime next-door neighbor Carl (Tim West) announces he is selling. Apparently the profit-minded purchaser, Diane (Monique Gaffney in the play’s pivotal yet dramaturgically troubling role), will “build up,” and Dakin and Macy will lose their view. So begins the deconstruction of Dakin’s fragile world. He is helpless despite soul-searching with Spencer, advice from Alan and the tender ministrations of Macy. Metcalfe’s characters are imbued with humanity. Beyond the simplicity of the story, his clarity allows us to more fully recognize our society, our neighbors and ourselves and to more fully feel their losses and ours. As an aside, the play explores the tragedy of the commons, a theory coined by scientist Garrett Hardin in 1968 to describe what happens when individuals act in self-serving ways and ignore what is best for the common good. Examples include over-fishing, the near extinction of species and the destruction of the rain forests. Metcalfe’s play, however, brings the philosophy home. “The Tragedy of the Commons” plays at 7:30 p.m. Wednesdays-Thursdays, 8 p.m. Fridays, 4 and 8 p.m. Saturdays, and 2 and 7 p.m. Sundays through Feb. 20 at Cygnet Theatre in Old Town, $24-$54, cygnettheatre.com or (619) 337-1525