24 August 2015
NEDs must walk a difficult line between risk and reward
Elinor Ostrom was a co-winner of the 2009 Nobel Memorial Prize in Economic Sciences for her analysis of economic governance, especially the commons (cultural and natural resources that are held in common, available to all and not privately owned). In her acceptance speech she referenced a comment made by Henry Savile, Vice Chamberlain to Charles II and James II, and Envoy in Paris. Savile said that if bankruptcy resulted in being hanged, it would prevent others from going down this route.