Common goods and globalization

Academic studies that were carried out during the period until Elinor Ostrom received Nobel Economics Prize in 2009, were approaching to common goods tragedy with two remedies. First of these is state intervention, so-called state theory, and the second one is privatization which is called as theory of the firm. Ostrom is opposed to these two views both at her book "Governing the Commons" which is published in 1991. In her study Ostrom tried to explain how efficient that the resources which are subject to the tragedy of the common, could be managed by its own users. Tragedy of the common goods according to Ostrom can be prevented by an economical governance concept in which users set their own rules instead of traditional methods. With the economical governance concept that is mentioned in the study, individuals benefit use of common good and increase the economic efficiency with their own rules and without government intervention and privatization. With the sharing of Ostrom's Nobel Economics prize with Oliver Williamson, a new approach to Economics has been brought. It can be said that their approach which is much more different then the traditional understanding to common goods, has taken an important role to their Nobel Economics Prize winning. The study that consists of two main parts is aiming to analyze theoretical discusses about tragedy of the common goods and the solution methods that are devised. In the first part, basic conceptual frame work about public goods and common goods is discussed. Besides, explanations and examples of global public goods which is emerged with globalization, is also included to be examined. And the second part is consisting of tragedy of the common goods and analysis of the contributions that Elinor Ostrom has done. Finally, the concept of economic governance in the common property is game theoretically fictionalized according to The Kantian approach pioneered by John E. Romer and how important is cooperation for common goods is attempted to be explained. Key Words : Common Goods, The Tragedy of the Commons, Economic Governance, Elinor Ostrom, Globalization