Toward a Political Economy of the Commons

Meina Cai, Ilia Murtazashvili, Jennifer Brick Murtazashvili and Raufhon Salahodjaev

in Books from Edward Elgar Publishing

Abstract: Since Garrett Hardin published The Tragedy of the Commons in 1968, critics have argued that population growth and capitalism contribute to overuse of natural resources and degradation of the global environment. They propose coercive, state-centric solutions. This book offers an alternative view. Employing insights from new institutional economics, the authors argue that property rights, competitive markets, polycentric political institutions, and social institutions such as trust, patience and individualism enable society to conserve natural resources and mitigate harms to the global environment.

Keywords: Economics and Finance; Environment; Politics and Public Policy (search for similar items in EconPapers)
Date: 2022
ISBN: 9781800374317
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