Today, Elinor Ostrom was awarded the Nobel prize for economics along with Oliver Williamson. In addition to the prestige of winning the award, Ostrom also has the distinction of being the first woman to win the Nobel prize for economics.
Ostrom’s work studied how communities manage resources better on their own rather than being told how to by an authority. In relation to that, she said:
“Bureaucrats sometimes do not have the correct information, while citizens and users of resources do.”
This idea supports one of the seven principles of sound public policy put forth by the Bluegrass Institute which is: what belongs to you, you tend to take care of; what belongs to no one or everyone tends to fall into disrepair.