Community Self-Determination

How Credit Unions Survived the Crash

Credit unions were only marginally affected by the Wall St. mortgage derivatives crisis.  Ralph Nader discusses the matter.

Elinor Ostrom Breaks the Nobel mould - celebrates the commons

The economics profession needs to be shaken up. Ostrom's Nobel prize should encourage us to take a fresh approach

Kevin Gallagher,guardian.co.uk, Tuesday 13 October 2009 17.00 BST

Elinor Ostrom with members of the IMSSG in Nepal
Elinor Ostrom (front) with members of the Irrigation Management
Systems Study Group during field work in Nepal.
Photo taken in March, 1993. Copyright © Arizona State University

The economics profession is in such disarray that one of the Nobel prizes in economics this year went to political scientist Elinor Ostrom – the first woman to be awarded the economics prize. This is an excellent choice (in any year) not only because of what Ostrom has contributed to social theory but also because of how she goes about her work.

In a nutshell, Ostrom won the Nobel prize for showing that privatising natural resources is not the route to halting environmental degradation.