Elinor Ostrom and the Theory of Governing the Commons Explained

Vanya Bisht

Nov 1, 2018

Learn about Elinor Ostrom and her Nobel Prize winning work in Economics. This video won the runners-up prize in the Commons Video Contest, held as part of the 1st Virtual Conference organized by the International Association for the Study of the Commons between November 12-30, 2018. It is an educational video about the commons scholarship pioneered by Elinor Ostrom, which provided a challenging alternative to Hardin’s theory of the Tragedy of the Commons. “Commons” is a term used in resource economics to describe types of goods that can be accessed by anyone but their use by one party limits their availability to others. Examples of common-pool resources include pasture lands, fresh water, fisheries, forests, etc. Through her research with different communities across the world, Elinor Ostrom showed that it is possible for local communities to sustainably manage their common resources without any external intervention like state control or privatization.

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