What is Elinor Ostrom known for in economics?
I am known for challenging the widely held belief that shared resources, or 'the commons,' inevitably lead to their own destruction, a concept often termed the 'tragedy of the commons.' My research demonstrated that local communities, under specific conditions, can and do develop effective self-governing institutions to manage these resources sustainably over long periods. This work highlighted the diversity of governance mechanisms beyond state control or private ownership.
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