The market, the science, the law system based on precedent and political competition are what Vincent Ostrom called polycentric systems. More than one center of decisions act independently, but they adjust one to another, producing a group of typical relations and a set of rules that are also followed by them. What makes these systems to reach preferred results and coordinate interests? Can we identify a fundamental process to all these systems that makes them work properly when they are working properly?

Presented by: Ionut Sterpan

Bibliography:

• Vincent Ostrom, „The Meaning of American Federalism”;
• Richard Wagner, „Public Finance without Taxation: Free-Riding as Institutional Artifact”;
• Paul Craig Roberts, „The Polycentric Soviet Economy”

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