Is the Tragedy of the Commons Really a Tragedy?

The FT's Tim Harford highlights two sides of a very important academic debate on how we can address environmental issues.  He compares Garrett Hardin's 1958 "Tragedy of the Commons" approach to Lin Ostrom's focus on how communities solve the challenges of sharing resources by creating systems and rules.

http://www.ft.com/intl/cms/s/2/afc5377e-1026-11e3-a258-00144feabdc0.html#axzz2dk2XoC4A