Good Bye Elinor

Elinor Ostrom, the only female economist to win the Nobel Prize, died earlier this week. Her area of focus was on how best to share common resources, like fisheries, water, air, forests, and grazing lands. Her conclusion; communities with common interests can solve problems better than regulators seeking simple panaceas. The key, get the parties to understand their common interests and then let them figure out the solution.