What comes out on top, though? It comes down to effectively implementing caps on catch levels using two key tools: reducing the Total Allowable Catch and putting in place catch shares. (You can look at their table where a solution was identified in at least five of the ten fisheries, and was usually ranked an “essential” part of the solution.) This is strong stuff!Somehow the logic is the same. You have a common resource: in the case of fish it's the stock which reproduces and grows without human input; in the case of tobacco and peanuts, it was the market, which although it was developed by humans, in the short term it's outside human control Then you have a set of players: for fish, the fishermen; for tobacco and peanuts, the growers. And you have a free-rider problem: if fishermen don't coordinate their efforts they destroy the fishery; if the growers don't coordinate they destroy the market price.
Wednesday, August 12, 2009
Marketing Quotas and Catch Shares
A Grist piece reports on a consensus on to manage fisheries, which strikes me as very similar to the marketing quotas which used to apply to tobacco and peanut production: