A new report details a lecture by the late Nobel Prize winner Elinor Ostrom. Professor Ostrom was the first woman to win a Nobel Prize in Economics, and this was one of the last lectures she gave. With contributions from leading environmental experts, Christina Chang, Mark Pennington and Vlad Tarko, this publication sets out how only the use of specific and local solutions can ensure that resources such as fisheries are properly managed.
The key findings of the research are:
- Rules imposed from above and from the outside, such as by government agencies, are unlikely to be successful. In developing a viable approach to the management of environmental resources, it is important that a resource can be clearly defined and that the rules governing the use of the resource are adapted to local conditions.
- For as long as the EU continues with a centralised model for managing fisheries, there remains the potential for an environmental catastrophe.
- Government regulation of common-pool resources, such as fisheries, is expensive, counter-productive and damaging.
The publication recommends:
- Local solutions to local