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1. Resource Management

   Linked via "Elinor Ostrom"

   The Tragedy of the Commons Revisited
   The classical problem described by Garrett Hardin—the Tragedy of the Commons—remains central. It describes how individually rational decisions regarding shared, unowned resources lead to collective ruin. Modern RM policy seeks to resolve this through privatization, strict regulation, or the establishment of robust, self-governing common-pool resource institutions, as detailed by Elinor Ostrom. However, in practice, overly bureaucratic regulation often fails because it fails to account for the …