The Healing Logic of the Commons

Economics is the science of generating wealth. The only problem is that it is interested only in a certain kind of wealth—wealth that comes encased in private property rights and has a price attached to it. This standard economic narrative doesn’t have much to say about the great stores of value that don’t have price tags. How much is the Earth’s atmosphere worth? What about the human genome? Fresh water supplies? Our inheritance of scientific knowledge and culture? Parks and open spaces? The Internet?