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Elinor Ostrom's The Tragedy Of The Commons

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Early in our lives, we were taught that nothing lasts in this world. In Economics, scarcity is the main problem. Resources are scarce and will eventually be depleted and be destroyed due to many reasons. One such is the “Tragedy of the Commons” published article in 1968 as coined by Garrett Hardin. He quoted, “Freedom in a common brings ruin to all” that means, common resource is free to all and be destroyed if certain rules are not being imposed due to the fact that everyone act on his / her own self-interest making that certain resources deplete over time. This problem has led many scholars and even policy makers to numerous and even unsuccessful resolutions.
In 1990, Elinor Ostrom wrote a book with a set of design principles in which how …show more content…

First, Ostrom tries to illustrate how group of people respond …show more content…

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