Addressing the Tragedy of the Commons

I said in 2014, January 31st that “The spectre haunting our world now is the problem of collective action in addressing these systemic failures.” and going through the International Baccalaureate economics text recently, boy did I get an intellectual high from stumbling upon the works of Elinor Ostrom on addressing just that! — Bottom-up governance of the commons — tastefully served by the first woman to win the Nobel Prize in Economics no less. Commons are typically natural…

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