The Problem of the Commons: Still Unsettled After 100 Years

42 Pages Posted: 16 Nov 2010

See all articles by Robert N. Stavins

Robert N. Stavins

Harvard University - Harvard Kennedy School (HKS); Resources for the Future; National Bureau of Economic Research (NBER)

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Date Written: November 16, 2010

Abstract

The problem of the commons is more important to our lives and thus more central to economics than a century ago when Katharine Coman led off the first issue of the American Economic Review. As the U.S. and other economies have grown, the carrying-capacity of the planet - in regard to natural resources and environmental quality - has become a greater concern, particularly for common-property and open-access resources. The focus of this article is on some important, unsettled problems of the commons. Within the realm of natural resources, there are special challenges associated with renewable resources, which are frequently characterized by open access. An important example is the degradation of open-access fisheries. Critical commons problems are also associated with environmental quality. A key contribution of economics has been the development of market-based approaches to environmental protection. These instruments are key to addressing the ultimate commons problem of the twenty-first century - global climate change.

Keywords: Common-Property Resource, Open-Access Resource, Fisheries, Global Climate Change

JEL Classification: Q22, Q28, Q50, Q54, Q58

Suggested Citation

Stavins, Robert N., The Problem of the Commons: Still Unsettled After 100 Years (November 16, 2010). FEEM Working Paper No. 131.2010, Available at SSRN: https://ssrn.com/abstract=1709884 or http://dx.doi.org/10.2139/ssrn.1709884

Robert N. Stavins (Contact Author)

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