Nobel laureate Elinor Ostrom Passes Away at 78

Today the world lost one of its leading economic lights, as Nobel laureate Elinor Ostrom passed away at the age of 78.

Ostrom, who taught at the University of Indiana, was the first female Nobel Prize winner in economics and was recently named to TIME’s 100 Most Influential People in the World. INET Executive Director Robert Johnson wrote Ostrom’s entry for TIME, saying “After the TARP bailouts and the devastation of democracies in Europe by financial technocrats, the world is again beginning to appreciate what Elinor Ostrom has deeply, persistently and quietly been illuminating for nearly 50 years.”

At a time when “virtually all the world’s most urgent problems require collective action,” as Johnson writes, Ostrom’s work, which dealt with the problems of collective governance, is more important than ever. The world will miss her vibrant intellect and courageous spirit.

Click here to read the TIME entry