tag:blogger.com,1999:blog-6598831864333990375.post1939696249442691212..comments2023-05-08T04:01:34.561-08:00Comments on Students Who Enjoy Economic Thinking: I'm afraid I am a bit short on time...Adam Levyhttp://www.blogger.com/profile/15257124483756325652noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6598831864333990375.post-87159857028105095172010-10-27T15:54:46.937-08:002010-10-27T15:54:46.937-08:00As I see it, Ostrom's research is all about ge...As I see it, Ostrom's research is all about getting past the simplistic private/public and market-failure/government-solution dichotomies that dominate the debate on common pool resource management. The question shouldn't be "when markets fail, can government do better?" or even the converse that "when governments fail can the market do better?" The question I see Ostrom raising is "under what conditions can individuals, through collective action, cooperate to overcome social dilemmas in the absence of an established external enforcement mechanism like the market's profit-loss motive or the State's coercive laws and regulations?" It's about the conditions under which self-regulating institutions (whether private or public) emerge and promote the spontaneous order and rules of the game that are conducive to social cooperation.<br /><br />Does that make sense?Richard Raineshttps://www.blogger.com/profile/00804936689427520573noreply@blogger.com