Great news that Elinor Ostrom has become the first woman to receive the Nobel Prize for Economics.

Examining the use of collective action, trust, and cooperation, her analysis of economic governance challenged conventional wisdom by demonstrating how common property (including forests, fisheries, oil fields, grazing lands, and irrigation systems) can be successfully managed, without regulation or privatization, by the groups using it rather than by governments or private companies.

This is of enormous importance to the whole discussion on sustainability and the complex relationship between mankind and our ecological system... and provides support for the principles behind the Yala.

Here she explains: