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| Source: http://www.nobelprize.org/nobel_prizes/economics/laureates/2009/ostrom-photo.html |
I was speaking to an undergraduate student of economics who was surprised at my mentioning that Elinor Ostrom was the first female Nobel laureate
on in Economic sciences. The purpose of this blog post is not to express my surprise that this student was unaware of this important first in economics, but that this fact has not been sufficiently covered in popular press.
As a professional with
a a distinguished career and who is classified as a political scientist, Elinor Ostrom was deservedly awarded the prize in 2009 in conjunction with Oliver Williamson.
To my embarrassment, I realized that I had not announced the award on this blog in 2009 as I have often done for other Nobel prize winners in that category. This left me with the delicate issue of blowing Elinor's trumpet rather late especially since she sadly passed away about a month ago. In short, she received the prize, " ..for her analysis of economic governance, especially the commons".
Here is the link to her Nobel Prize Lecture delivered on December 8, 2009. In short,
her work responds to the economic aphorism, "tTragedy of the Commons", and shows presents real examples in parts of the world where societies adopted sophisticated systems to ensure coordinated utilization of such resources. Here's social scientist who tests theories through empirical means and provided a serious counterfactual to one of the most common responses to handling common resources.
Addition: Here's the article from the NYT announcing her passing on.
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