Wednesday, November 12, 2008

Property Rights in Fish

"(T)he privatisation of commercial fisheries through what are known as catch shares or Individual Transferable Quotas (ITQs)" can help protect the species..

Fancy that.

Here is another article from The Economist. Some of the comments on the latter are from nay-sayers worried that it didn't address "the human element." Well, I for one am opposed to buying, selling, processing, and eating the human element, property rights or not.

At least until the theory has more evidence for it.



Anonymous dan said...

If a fishery is truly privatized, it is no one else's business whether the owners maximize their profits in the short run (harvest the fish to extinction) or the long run (harvest sustainably). What you actually have is a government-run cartel with a free-market facade. Any problems will be blamed on the facade and fixed by more government. This may or may not be an improvement on the tragedy of the commons, but it is not a victory for property rights.

Thursday, November 13, 2008 at 9:38:00 AM HST  

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