Question

The name of the Nobel prize-winning economist who argued against the Tragedy of the Commons thesis is ________.There is a short reading about this person in the Unit 4. Know it well, especially what she identifies as the critical component in the sustainable management of natural resources. Is it nationalization, privatization or something else?

Answer 1

Answer:

1) The correct word for the blank space is: Elinor Ostrom.

2) The correct answer is: Sharing common resources.

Explanation:

1 )Elinor Ostrom was born in Los Angeles, California -the U.S., on August 7th, 1933. Ostrom was an American politician who won the Nobel Prize in Economic Sciences in 2009 shared with Oliver E. Williamson (born in 1932) for her "analysis of economic governance, especially the commons".

2) Ostrom disagreed with the idea that central government management or the rights to private property are the only way to avoid the "Tragedy of the commons". After her research, Ostrom concluded that when individuals use natural resources jointly, along the time rules on how resources must be taken care of and used are established economically and sustainably.