Economist of the "Commons" Wins Nobel
BY Nancy Scola | Monday, October 12 2009
The reason that you might see technologists and other assorted geeks excited about the Nobel Prize in economics today is that it went to an economist whose work has a lot to say about the Internet age. Indiana Univeristy's Elinor Ostrom focuses her work on how people can go about creating rules for transactions around shared resources, or "commons," that make collective action rewarding (enough) for everyone involved. And where she added a particularly new way of thinking to economics was to zero in on the economic transactions that take place in ad hoc organizations. Her work is part of a body of knowledge that underlies what people are looking for and considering as they design Gov 2.0 systems of participation and new models for democracy, which makes her of particular interest to those of us interested in thinking through a distributed view of the world. Oh, and Ostrom also happens to be the first woman to win the Nobel in economics, so there's that. Details from the Nobel committee are here.