Elinor Ostrom

Date of Birth: August 7, 1933

Zodiac Sign: Leo

Date of Death: June 12, 2012

Biography

Elinor Ostrom, born Elinor Claire Awan on August 7, 1933, in Los Angeles, California, was an influential American political economist renowned for her groundbreaking work in the field of institutional economics. She was the first woman to receive the Nobel Memorial Prize in Economic Sciences, which she was awarded in 2009 for her analysis of economic governance, especially the commons. Ostrom’s research challenged the conventional wisdom that common property was poorly managed and should be regulated by central authorities or privatized. Instead, she demonstrated through numerous case studies that communities could effectively manage common resources through collective action and self-governing institutions. Ostrom earned her bachelor’s degree in political science from UCLA in 1954 and continued to pursue her master’s and Ph.D. degrees at the same institution, completing her doctorate in 1965. She joined the faculty at Indiana University in 1965, where she co-founded the Workshop in Political Theory and Policy Analysis with her husband, Vincent Ostrom. This interdisciplinary research center became a hub for scholars interested in studying how institutions affect human behavior and societal outcomes. Throughout her career, Ostrom published extensively, with notable works including “Governing the Commons: The Evolution of Institutions for Collective Action” (1990). Her contributions have had a profound impact on various fields including political science, economics, sociology, and anthropology. Elinor Ostrom passed away on June 12, 2012, leaving behind a legacy of pioneering research and insights that continue to influence scholars and policymakers around the world.

5 Interesting Facts about Elinor Ostrom

1. Elinor Ostrom was the first woman to win the Nobel Memorial Prize in Economic Sciences.

2. She conducted extensive fieldwork in various countries, including Nepal, Kenya, and Indonesia, to study how communities manage common resources.

3. Ostrom was a co-founder of the Workshop in Political Theory and Policy Analysis at Indiana University.

4. She challenged the “tragedy of the commons” theory by demonstrating that local communities could efficiently manage shared resources without external regulation.

5. Ostrom’s work has influenced policies on environmental sustainability and resource management globally.

5 Most Interesting Quotes from Elinor Ostrom

1. “What we have ignored is what citizens can do and the importance of real involvement of the people involved – versus just having somebody in Washington… make a rule.”

2. “There is no reason to believe that bureaucrats in remote places, or even in the capital, will ever be able to gather enough information to allocate resources optimally.”

3. “Trust is a key element in the ability of citizens to organize and solve problems collaboratively.”

4. “We have to move beyond panaceas for solving complex problems.”

5. “Complexity is not the enemy of democracy, but its essence.”

Highest Net Worth Achieved

As an academic, Elinor Ostrom did not achieve significant personal wealth. Her highest net worth is not publicly documented, as her contributions were primarily in intellectual and academic fields rather than financial.