Ostrom

Definition

Elinor Ostrom was a political economist known for her work on how communities manage common resources through collective action and self-governance, challenging the conventional wisdom that only private ownership or government intervention could prevent resource depletion. Her research demonstrated that under certain conditions, groups can effectively organize and govern themselves to manage shared resources sustainably.

Related terms

Collective Action Problem: A situation where individuals' personal interests conflict with the group's interest, leading to suboptimal outcomes if left unaddressed.

Tragedy of the Commons: A scenario in which individuals acting independently and rationally according to their own self-interest behave contrary to the best interests of the whole group by depleting some common resource.

Self: Governance - The ability of a group or community to manage its affairs independently without intervention from external authorities