WANTRUP Common Proeprty as a Concept n Natural Resource Policy - 0 views
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iheringalcoforado on 04 Sep 13"nstitutions based on the concept"common property" have played socially beneficial roles in natural resources management from economic pre-history up to thepresent. These same institutions promisehelp in solving pressing resourcesproblems in both the devel- oped and the developing countries. It isall the more important that these institutions be the focus of an economic study because they have been misunderstood by modern day economists: We refer to the so-called "theory of common property resources" orwhat is oftentermed the "tragedy of the commons."1"