Thank You, Elinor Ostrom

Elinor Ostrom studied how real people all over the world managed and governed common pool resources. And she won the Nobel prize in Economics for her work. Forests, fishing grounds, rivers, pastures, even the air we breathe are common pool resources. Elinor Ostrom showed how human collaboration yielded better results than either privatization or government regulation of the resources. It's a good reminder that classical economics' "thought experiments" regarding the so-called tragedy of the commons wasn't the end of the story. Elinor Ostrom rocks.