Time selects Lin Ostrom --- very well deserved recognition.
See the discussion and links at Mercatus's website.
Also see my appreciation of her work at The Freeman.
Paul Dragos Aligica and I have jointly and separately written several essays detailing Lin (and Vincent's) contributions to political economy and social science. My Public Choice discussion of her work can be found here. Our New Palgrave Dictionary of Economics essay on Lin is online.
And, most importantly, don't forget our book, Challenging Institutional Analysis of Development: The Bloomington School (Routledge, 2009).
Congratulations to Lin for this recognition, and to Time for being wise enough to make the selection.