A broadly held view in the modern world is that economic relations are best governed by some mix of state regulation, and market-mediated exchange of privately owned resources. This tends to reflect a deeper assumption: ‘ordinary citizens’ are not well placed to collectively organise the managing of resources in which they have shared interests – left to their own devices, narrow self-interest will eventually lead to over-exploitation and deterioration of the resource. The dominance of states and markets in arranging economic life is, however, a relatively recent development in public policy thinking. And it was in the wake of Garret Hardin’s (famous or infamous depending on who you ask)1968 essay ‘The tragedy of the commons’ that the idea gained widespread popular appeal in liberal democracies.
Today though, while the state-private duopoly continues as the dominant influence in economic governance, claims for its exclusive empirical validity or moral superiority no longer remain tenable. This is thanks in large part to the work of political economist Elenor Ostrom, co-winner of the 2009 Nobel Memorial Prize in Economics for her work demonstrating that successful commons remain alive and well around the world today. There are many situations where resources held and managed in common by those relying on them to meet their needs are simply not subject to the fate ascribed by Hardin. Such management may even improve the state of a commons. Continue reading