Foundations of Contemporary Economics: Elinor Ostrom and Common Pool Resources Cover Image

Основи на съвременната икономика: Елинор Остром и общите ресурси
Foundations of Contemporary Economics: Elinor Ostrom and Common Pool Resources

Author(s): Henrik Egbert, Teodor Sedlarski, Aleksandar B. Todorov
Subject(s): Economy, National Economy, Supranational / Global Economy
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: Elinor Ostrom; common-pool resources; polycentric governance; Bloomington School; public choice; new institutional economics

Summary/Abstract: Elinor Ostrom changed the way of thinking about common-pool resources in economics. She provided an institutional analysis that shows how groups can find solutions to complex problems for collective goods. Ostrom showed that collective action can work among rational individuals. She and her husband Vincent objected privatization, nationalization, and centralized government for governing the commons. Instead, they promoted polycentric governance as a solution for many common-pool resources. Her approach is known as the Bloomington School of Political Economy, a thriving direction in Public Choice Theory.

  • Issue Year: 2023
  • Issue No: 5
  • Page Range: 554-571
  • Page Count: 18
  • Language: Bulgarian