Our Common Wealth

21New Institutions Needed

The kind of social structure that makes commons productive in the Alps of Switzerland, the rice fields of the Philippines, and many other settings are not always possible in the United States. What’s more, some commons—such as the oceans and the atmosphere—are too large to be amenable to participatory management. The challenge is to build formal institutions that replicate the essential features of commons even if they cannot include the social dynamic of local settings.

One essential feature is equity. Commons serve all, either equally or by a just distributional standard, subject to necessary rules for access and use. A second essential feature is inter-generational responsibility. Corporations are programmed to maximize ...