The Impact of Globalization in Elinor Ostrom's "The Drama of the Commons" In today’s globalized marketplace, local economies are facing more external pressures than at any time in history. For many nations and regions of the world, the challenges are so daunting, in fact, that little concern and forethought are being given to the impact of globalization on common pool resources. As a result, many common pool resources continue to be mismanaged, depleted, and even destroyed. Accordingly, the following discussion examines the book The Drama of the Commons by economist and Nobel Prize winner Elinor Ostrom. Background The focus of Ostrom’s research over the years has concerned a central concept and theme in the fields of ecology and the study...The end:
..... a tenable theoretical framework for ending this narrative. It begins by embracing a more optimistic view of human nature based on the assumption that people are capable of acting in the interests of the collective good if given the chance. For this to happen, however, policy-makers must accept and understand Ostrom’s eight fundamental principles for an effective local common pool resource management. In sum, Ostrom’s eight principles call for well defined boundaries for local communities, self-determination, and multilayered groups supported by an equitable system of justice and law enforcement – the opposite of current trends in world economics and politics. REFERENCES Ostrom, E. (2002). The Drama of the Commons. National Academies Press.