Tragedy of the commons

The passing of Elinor Ostrom on June 12th gives rise to acknowledging again not only she as the first woman to receive the Nobel Prize in economics but the ability of all us to make a difference.

As mentioned in The Washington Post article, the tragedy of the commons suggests that individuals acting in self-interest will ultimately deplete a resource that is open to everyone.

In this short entry and by way of this informative and sometimes entertaining video presented by Elinor, it’s possible to see why Time Magazine recently named Dr Ostrom as 2012’s one of the 100 most influential people in the world for her work in this field.

Please take a moment to share.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s