Original article History of Economic Thought, Methodology, and Heterodox Approaches

FOUNDATIONS OF CONTEMPORARY ECONOMICS: ELINOR OSTROM AND COMMON-POOL RESOURCES

Henrik Egbert - Anhalt University of Applied Sciences, Germany
Teodor Sedlarski - Sofia University St. Kliment Ohridski
Aleksandar B. Todorov - University of Economics – Varna
Received: 14 Dec 2023
Revised:
Published:
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Issue 5/2023
JEL H41 D71 B25 H44 C92
DOI https://doi.org/10.56497/etj2368505

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.

How to cite this article

Egbert, H., Sedlarski, T., Todorov, A. B. (2023). Osnovi na savremennata ikonomika: Elinor Ostrom i obshtite resursi (Foundations of Contemporary Economics: Elinor Ostrom and Common Pool Resources). Economic Thought Journal, 68(5), 554-571 (in Bulgarian). https://doi.org/10.56497/etj2368505

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