It is smart for the mob to remain robust and flexible
February 15th, 2010

The Forward Foundation Blog has some interesting thoughts on: Resource Sharing – Grounding the 21st Century Economy. The authors note that “there is a considerable and growing body of work devoted to understanding shared resources, or ‘commons.'” With all the big economic moves and swings going on, it is good in my opinion, to be looking after openness lest we lose it.

The discussion here first turns to this concern: “When open-access resources are depletable, then they have a unique dynamic, traditionally known as the ‘Tragedy of the Commons.'” After a good read, centered on ideas of Elinor Ostrom, winner of a 2009 Nobel Prize in Economics, the authors conclude:

Twenty-first century wealth-generating ecologies need to remain robust and flexible in order to allocate resources quickly and efficiently, and to mitigate the effects of constant fluctuations and redistributions. Nobel Prize recipient Elinor Ostrom’s work on “commons” provides vital thinking towards a solution: peer governance and information transparency.

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