Bobbi Herzberg — 2025 Markets and Society Conference Keynote

On this episode of the Hayek Program Podcast, Bobbi Herzberg delivers a keynote lecture at the 2025 Markets & Society conference on Vincent Ostrom’s understanding of democracy and self-governance. Reflecting on Ostrom’s life, scholarship, and enduring influence, Herzberg explores four central themes in his work: the emergence of social order through shared beliefs and norms, the capacity of individuals to govern themselves, the importance of polycentric systems of governance, and the fragility of democratic institutions. Drawing on Ostrom’s collaborations with his wife, Elinor Ostrom, and his engagement with the writings of Alexis de Tocqueville, Herzberg argues that democracy is not a mechanism imposed from above but an ongoing practice of cooperation, deliberation, and mutual responsibility. She concludes by emphasizing Ostrom’s vision of democracy as a living experiment in self-government that must be renewed and sustained by each generation.

Dr. Roberta Herzberg is a Distinguished Senior Fellow and a Senior Research Fellow with the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University and a Senior Fellow at the Fraser Institute.

**This episode was recorded on October 17, 2025**