Elinor Ostrom, the only woman ever to win an economics Nobel, died today at age 78.
She was famous for challenging an idea known as the tragedy of the commons — the theory that, in the absence of government intervention, people will inevitably overuse a shared resource.
So, for example, if a village shares a pasture, it's in the individual interest of each farmer to graze his cattle as much as possible on the pasture even though, in the long run, overgrazing may ruin the pasture for everyone.
Fans hooked on "Dallas" back in the '80s were probably also watching other popular prime time soaps, including "Dynasty." "Dynasty," like its rival, was about a rich oil family, this one in Colorado, and the women on "Dynasty" defined '80s fashion with their slinky blouses, gold lame, glamorous jewelry, and of course those power suits with the big shoulders.