Chris Williams: Ownership Models for Natural Resources: Fisheries. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
1) Negotiations over water allocations between riparian states often result in deadlock due to asymmetrical power balances and the question of "what's in it for me?".
2) A benefit-sharing approach focuses on generating mutual benefits from water resources rather than directly allocating water volumes, providing more opportunities for cooperation.
3) The Senegal River Basin organization is cited as a successful example of transboundary water cooperation, with jointly planned infrastructure projects, shared development benefits and costs.
This document discusses territorial use rights in fishing (TURFs). It defines TURFs as community-held rights to exclude others and determine usage of fishery resources within a specific area. TURFs can generate benefits by excluding outsiders, controlling effort, dealing with externalities, and providing incentives to invest in and avoid overfishing local stocks. They also improve welfare by increasing local employment, income, and preserving social organization. Traditionally, TURFs have long been used by indigenous groups but many are now threatened. The document evaluates TURFs based on their potential to efficiently generate benefits and equitably distribute them within communities.
This document discusses the need for coordinated governance of land and water resources that places people at the center. It argues that people have holistic perspectives on natural resources that support their livelihoods. Coordinated governance is needed to address issues like growing competition for water resources and ensuring access for all. Water constituencies can learn from land constituencies' focus on marginalized people, customary rights, and global rights-based dialogue. The document calls for voluntary guidelines that frame land and water tenure through joint people-centered processes respecting customary entitlements and human rights to resources.
Off the Hook is a community supported fishery with objectives of being financially successful through providing meaningful work, contributing to ecological restoration through sustainable fishing practices, and inspiring smarter policy through their sustainable business model. They use fixed gear rather than mobile gear and have locations in Nova Scotia, where customers are willing to pay more for sustainable seafood. Their practices aim to support generations of fishing to come while protecting the environment and marine life.
The document summarizes information about community land trusts (CLTs), including their objectives to provide affordable housing and community benefits in perpetuity. It outlines how CLTs acquire land, some of the challenges they face, their legal status, and sources of support available. CLTs take a variety of forms but generally aim to meet local housing needs while retaining affordable access and community control over land and buildings.
Three presentations from session 13 of the Greater Mekong Forum on Water, Food and Energy, hosted by the Stockholm Environment Institute, the Myanmar Environment Institute, the Dragon Institute, and SUMERNET on October 25th in Yangon. This session was targeted at policy stakeholders tasked with developing safe and sustainable food systems through a discussion of proven approaches and policy options with the aim of creating a community of practice across deltas within the region.
Vala Ragnarsdottir presentation on Convergence to the Balaton Groupconvergeadmin
1) The document discusses the Converge Project framework for managing Earth's limited resources sustainably to support a projected global population of 9 billion people by 2050. The framework focuses on equity within planetary boundaries through convergence.
2) Case studies testing the Converge framework involved engaging communities in Iceland, Bristol, and India to model their local food systems and identify solutions. Preliminary results from Iceland and Bristol focused on sustainability education, local food production and distribution, and reducing dependence on oil.
3) While mapping food systems and networking worked well, some participants did not fully consider planetary boundaries and social equity which are core to the Converge framework. The document advocates further engagement to raise awareness of these issues.
Presentation by Jamie Skinner (IIED) at World Water Week 2015 in Stockholm in the context of the side event: 'Towards socially just and economically viable dams in West Africa' (GWI West Africa).
1) Negotiations over water allocations between riparian states often result in deadlock due to asymmetrical power balances and the question of "what's in it for me?".
2) A benefit-sharing approach focuses on generating mutual benefits from water resources rather than directly allocating water volumes, providing more opportunities for cooperation.
3) The Senegal River Basin organization is cited as a successful example of transboundary water cooperation, with jointly planned infrastructure projects, shared development benefits and costs.
This document discusses territorial use rights in fishing (TURFs). It defines TURFs as community-held rights to exclude others and determine usage of fishery resources within a specific area. TURFs can generate benefits by excluding outsiders, controlling effort, dealing with externalities, and providing incentives to invest in and avoid overfishing local stocks. They also improve welfare by increasing local employment, income, and preserving social organization. Traditionally, TURFs have long been used by indigenous groups but many are now threatened. The document evaluates TURFs based on their potential to efficiently generate benefits and equitably distribute them within communities.
This document discusses the need for coordinated governance of land and water resources that places people at the center. It argues that people have holistic perspectives on natural resources that support their livelihoods. Coordinated governance is needed to address issues like growing competition for water resources and ensuring access for all. Water constituencies can learn from land constituencies' focus on marginalized people, customary rights, and global rights-based dialogue. The document calls for voluntary guidelines that frame land and water tenure through joint people-centered processes respecting customary entitlements and human rights to resources.
Off the Hook is a community supported fishery with objectives of being financially successful through providing meaningful work, contributing to ecological restoration through sustainable fishing practices, and inspiring smarter policy through their sustainable business model. They use fixed gear rather than mobile gear and have locations in Nova Scotia, where customers are willing to pay more for sustainable seafood. Their practices aim to support generations of fishing to come while protecting the environment and marine life.
The document summarizes information about community land trusts (CLTs), including their objectives to provide affordable housing and community benefits in perpetuity. It outlines how CLTs acquire land, some of the challenges they face, their legal status, and sources of support available. CLTs take a variety of forms but generally aim to meet local housing needs while retaining affordable access and community control over land and buildings.
Three presentations from session 13 of the Greater Mekong Forum on Water, Food and Energy, hosted by the Stockholm Environment Institute, the Myanmar Environment Institute, the Dragon Institute, and SUMERNET on October 25th in Yangon. This session was targeted at policy stakeholders tasked with developing safe and sustainable food systems through a discussion of proven approaches and policy options with the aim of creating a community of practice across deltas within the region.
Vala Ragnarsdottir presentation on Convergence to the Balaton Groupconvergeadmin
1) The document discusses the Converge Project framework for managing Earth's limited resources sustainably to support a projected global population of 9 billion people by 2050. The framework focuses on equity within planetary boundaries through convergence.
2) Case studies testing the Converge framework involved engaging communities in Iceland, Bristol, and India to model their local food systems and identify solutions. Preliminary results from Iceland and Bristol focused on sustainability education, local food production and distribution, and reducing dependence on oil.
3) While mapping food systems and networking worked well, some participants did not fully consider planetary boundaries and social equity which are core to the Converge framework. The document advocates further engagement to raise awareness of these issues.
Presentation by Jamie Skinner (IIED) at World Water Week 2015 in Stockholm in the context of the side event: 'Towards socially just and economically viable dams in West Africa' (GWI West Africa).
Presentation at IACSS, 2013, Istanbul, Environmental Concerns and Investment...Kalpana Murari
The document discusses the need for reforming the international investment regime to better address environmental concerns. It notes that current international investment agreements do not adequately consider environmental impacts. It argues that a comprehensive multilateral agreement on investment is needed to protect host states' right to regulate investments and ensure they meet environmental objectives. This is important as global investment is increasing in environmentally sensitive areas like agriculture, land, and the Arctic region. The document advocates for mandatory environmental standards and transparency requirements in international investment agreements to promote sustainable development and mitigate environmental damage from investments and land acquisitions.
1. Water level and temperature loggers were installed in lakes in June 2011 to monitor water levels and temperatures, which are sensitive to vertical mixing.
2. The macrophyte Ceratophyllum submersum has proliferated in recent years, causing concerns about impacts on infrastructure, fisheries, and ecosystem productivity and quality.
3. Preliminary experiments confirmed Ceratophyllum submersum's potential for allelopathy, releasing chemical compounds that can harm other plants or organisms.
The document discusses externalities and how they can cause market failures. It defines externalities as uncompensated impacts of an economic transaction on a third party. Externalities can be positive, like education spill overs, or negative, like pollution. The socially optimal level of production differs from the market equilibrium when externalities are present. Government policies like Pigouvian taxes or cap-and-trade systems can be used to internalize externalities and restore efficiency. Private solutions sometimes work but transaction costs may prevent cooperation.
1) A study examined the impact of different property rights regimes on forest access, condition, and economic outcomes in Haryana, India.
2) It found that forests under community forestry programs and communal tenure saw improved conditions compared to open access regimes.
3) A benefit-cost analysis of management scenarios found that regimes promoting community access to some resources and responsibility for conservation were most economically viable.
Participation in the EU carbon trading scheme is argued to be an effective policy for reducing carbon emissions from European airlines. The scheme puts a price on carbon and incentivizes airlines to lower emissions and invest in new technologies. However, the low price of carbon permits makes the scheme ineffective. Additionally, the costs imposed on airlines could harm an important industry. Alternative policies like carbon taxation or tougher regulations may be more effective in the long run, especially with a global coordinated approach.
The document discusses externalities and market failures caused by externalities, as well as various government solutions. It covers the different types of externalities, including negative and positive. For negative externalities, it evaluates regulations, taxes, and tradable permits as potential policy solutions. Regulations alone often do not work well, while taxes and permits can internalize external costs by making firms account for social costs. Property rights are also discussed as an effective solution. Subsidies are presented as a way to encourage positive externalities. The optimal level of the tax or permit price is determined by comparing marginal social costs to marginal social benefits.
Externalities Graphs How i understand themvicarick
This document discusses positive and negative externalities through examples and graphs. For positive externalities like education, the social benefit is greater than the private benefit, leading the market equilibrium to be less than the socially optimal level. For negative externalities like pollution from steel production, the social cost is greater than the private cost, so the market equilibrium is greater than the optimal level. The document explains how government policies like subsidies or taxes can help correct these market failures by aligning private and social costs/benefits. It concludes by asking for feedback to improve the author's understanding of externalities graphs.
This document discusses externalities and how they can lead to market inefficiencies. It defines externalities as uncompensated impacts of one person's actions on another. Negative externalities like pollution lead to overproduction, while positive externalities like education benefits lead to underproduction. Government policies like Pigouvian taxes or tradable permits can help internalize these externalities and achieve socially optimal production levels. Private solutions via bargaining are also possible using the Coase theorem, but transaction costs may prevent private solutions in some cases.
The document discusses several methods for protecting marine biodiversity, why it is difficult, and case studies of protection efforts. In 3 sentences:
Laws, economic incentives, and marine reserves help sustain marine biodiversity, but overfishing, unregulated development, and viewing oceans as endless resources threaten species. Several international agreements and US acts have provided legal protections for endangered marine species. Case studies demonstrate how community management, protected areas, and restoration efforts can help conserve species like sea turtles and restore damaged ecosystems like the Florida Everglades.
An Evolution of a Commercial Fishery by Wes EriksonFAO
This document provides an overview of the evolution of commercial fishing in British Columbia over the past 40 years. It describes how the fishery has moved from an open access system with no limits in the early days, to increasingly restrictive management through gear limits, seasons, and area closures. This led to overfishing, safety issues, and low prices. In the 1980s/90s, the fishery introduced individual quotas (IQs) and catch shares which addressed these problems by removing competition and incentivizing accountability and selectivity. Further integration of multiple fisheries into one rights-based, fully accountable system improved data collection, enforcement, markets and cooperation. The keys to the system's success are identified as removal of competition,
This document summarizes key concepts regarding fisheries management. It defines important terms like fish stocks, exclusive economic zone (EEZ), and mechanisms for harvesting fish. It discusses challenges like bycatch, overfishing, and factors contributing to declining fish populations. Strategies for conservation are outlined, such as gear restrictions, catch limits, and protecting essential fish habitat. The document also reviews agencies and laws involved in fisheries management, such as the Magnuson-Stevens Act and its goals of preventing overfishing while achieving sustainable yields.
1) The document provides a whistle-stop tour of issues in marine management including overfishing, bycatch, benthic damage from fishing gear, expansion of fisheries to deeper waters and seamounts, and fishing down the food web.
2) It then summarizes approaches to ocean governance including how the ocean is divided, regional fisheries management organizations, international advisory bodies, and major policy documents.
3) Finally, it presents a case study of the West Greenland coldwater prawn fishery which underwent assessment for Marine Stewardship Council certification. The certification involved an ecological survey of the benthic habitat using camera and grab samples.
Strategic Governance and Legal Issues of Rights-based Approaches – A Canadian...FAO
This document provides an overview of fisheries governance and Aboriginal fishing rights in British Columbia, Canada. It summarizes the history of Aboriginal fishing cultures, the lack of treaties signed in BC, and current negotiations of treaties and litigation to address Aboriginal rights. A key development was the 2014 court recognition of an Aboriginal right to fish commercially for five First Nations. This established precedence and strengthened Aboriginal tenure rights, though negotiations continue over allocating fish to accommodate the commercial right. The document examines implications for fisheries management and the ongoing trial to further clarify Aboriginal rights and potential justifications for infringements.
Fisherman Quotas, A tentative Suggestions for Domestic ManagementNancy Forvil
1. The document discusses different systems of fisheries management that allocate exclusive use rights to encourage collective management efforts. These include FADTURFs where fishermen invest in fish aggregation devices; RENTTURFs where fishermen agree to limit catches to increase prices; and EQUITYTURFs which maintain community stability.
2. It also discusses a successful example of "collective fishing" management in Japan where fishing vessel proceeds are pooled and distributed equally, improving efficiency and preventing accidents and conflicts.
3. While some argue exclusive use rights are not necessary, the document counters that input-based rights are unstable over time as fishermen increase investments to gain larger shares, ultimately risking stock depletion. Pro
The document discusses threats to aquatic biodiversity from overfishing, pollution, habitat destruction, and invasive species. It provides examples of both degradation, such as the collapse of Atlantic cod fisheries, and conservation success stories, like protections for whales that led to population recovery. The document advocates for establishing marine protected areas, reducing pollution and overfishing, and restoring degraded habitats to sustain aquatic ecosystems and the services they provide.
Garrett Hardin's 1968 essay "The Tragedy of the Commons" explores issues of environmental degradation caused by unlimited exploitation of limited shared resources for private gain. Using a parable of herders sharing a common pasture, Hardin illustrates how individually rational decisions to maximize private profits can destroy a shared limited resource. Unless restraint is exercised through rules, privatization, or social interdependence, the commons is vulnerable to tragedy. Examples include overfishing, pollution, deforestation, and population growth exceeding ecological limits.
The document discusses wetlands and their importance for marine life. It defines wetlands and lists their environmental benefits. It describes red mangroves and how they serve as nurseries for organisms like spiny lobster, queen conch, and Nassau grouper. The document identifies issues like a lack of wetland protection laws and declining fish populations. Research was conducted through surveys, interviews, and analyzing environmental laws. It was found that wetlands are not being utilized for food security or species protection. The conclusion calls for educating the public, strengthening laws, and designating more protected wetland areas.
Destructive and prohibited fishing practicesB. BHASKAR
This document discusses various destructive fishing practices and their environmental impacts. It begins by noting that overfishing is depleting fish populations around the world and illegal fishing threatens food security. Bottom trawling is described as particularly destructive, homogenizing seabed habitats and eliminating structure-forming species. Bycatch is a major issue associated with bottom trawling and shrimp trawling. The document also discusses other gear types like dredges, traps, and pelagic trawls, and notes that regulatory measures and certification programs aim to reduce their environmental impacts.
Full details at http://www.victoria.ac.nz/chaplains/whatson/do-something-fish.html
A Human FM-sponsored DO SOMETHING! event at the VUW Anglican Chaplaincy.
www.dosomething.org.nz
Indigenous Rights and Property Rights in the Fisheries: A Case Study From Mi’...FAO
This document summarizes a presentation comparing indigenous rights and property rights approaches to fisheries management using a case study from Mi'kma'ki (ancestral homelands of the Mi'kmaq people in Atlantic Canada). It discusses how an Individual Transferable Quota (ITQ) system introduced property rights that concentrated ownership and harmed small-scale fisheries and communities. Meanwhile, the Marshall Decision affirmed Mi'kmaq treaty rights to a moderate livelihood fishery. However, government response undermined these rights by limiting options to property-based agreements. The document argues that a property rights approach is at odds with indigenous rights and highlights Mi'kmaq resistance and alliances with other small-scale fisheries
Presentation at IACSS, 2013, Istanbul, Environmental Concerns and Investment...Kalpana Murari
The document discusses the need for reforming the international investment regime to better address environmental concerns. It notes that current international investment agreements do not adequately consider environmental impacts. It argues that a comprehensive multilateral agreement on investment is needed to protect host states' right to regulate investments and ensure they meet environmental objectives. This is important as global investment is increasing in environmentally sensitive areas like agriculture, land, and the Arctic region. The document advocates for mandatory environmental standards and transparency requirements in international investment agreements to promote sustainable development and mitigate environmental damage from investments and land acquisitions.
1. Water level and temperature loggers were installed in lakes in June 2011 to monitor water levels and temperatures, which are sensitive to vertical mixing.
2. The macrophyte Ceratophyllum submersum has proliferated in recent years, causing concerns about impacts on infrastructure, fisheries, and ecosystem productivity and quality.
3. Preliminary experiments confirmed Ceratophyllum submersum's potential for allelopathy, releasing chemical compounds that can harm other plants or organisms.
The document discusses externalities and how they can cause market failures. It defines externalities as uncompensated impacts of an economic transaction on a third party. Externalities can be positive, like education spill overs, or negative, like pollution. The socially optimal level of production differs from the market equilibrium when externalities are present. Government policies like Pigouvian taxes or cap-and-trade systems can be used to internalize externalities and restore efficiency. Private solutions sometimes work but transaction costs may prevent cooperation.
1) A study examined the impact of different property rights regimes on forest access, condition, and economic outcomes in Haryana, India.
2) It found that forests under community forestry programs and communal tenure saw improved conditions compared to open access regimes.
3) A benefit-cost analysis of management scenarios found that regimes promoting community access to some resources and responsibility for conservation were most economically viable.
Participation in the EU carbon trading scheme is argued to be an effective policy for reducing carbon emissions from European airlines. The scheme puts a price on carbon and incentivizes airlines to lower emissions and invest in new technologies. However, the low price of carbon permits makes the scheme ineffective. Additionally, the costs imposed on airlines could harm an important industry. Alternative policies like carbon taxation or tougher regulations may be more effective in the long run, especially with a global coordinated approach.
The document discusses externalities and market failures caused by externalities, as well as various government solutions. It covers the different types of externalities, including negative and positive. For negative externalities, it evaluates regulations, taxes, and tradable permits as potential policy solutions. Regulations alone often do not work well, while taxes and permits can internalize external costs by making firms account for social costs. Property rights are also discussed as an effective solution. Subsidies are presented as a way to encourage positive externalities. The optimal level of the tax or permit price is determined by comparing marginal social costs to marginal social benefits.
Externalities Graphs How i understand themvicarick
This document discusses positive and negative externalities through examples and graphs. For positive externalities like education, the social benefit is greater than the private benefit, leading the market equilibrium to be less than the socially optimal level. For negative externalities like pollution from steel production, the social cost is greater than the private cost, so the market equilibrium is greater than the optimal level. The document explains how government policies like subsidies or taxes can help correct these market failures by aligning private and social costs/benefits. It concludes by asking for feedback to improve the author's understanding of externalities graphs.
This document discusses externalities and how they can lead to market inefficiencies. It defines externalities as uncompensated impacts of one person's actions on another. Negative externalities like pollution lead to overproduction, while positive externalities like education benefits lead to underproduction. Government policies like Pigouvian taxes or tradable permits can help internalize these externalities and achieve socially optimal production levels. Private solutions via bargaining are also possible using the Coase theorem, but transaction costs may prevent private solutions in some cases.
The document discusses several methods for protecting marine biodiversity, why it is difficult, and case studies of protection efforts. In 3 sentences:
Laws, economic incentives, and marine reserves help sustain marine biodiversity, but overfishing, unregulated development, and viewing oceans as endless resources threaten species. Several international agreements and US acts have provided legal protections for endangered marine species. Case studies demonstrate how community management, protected areas, and restoration efforts can help conserve species like sea turtles and restore damaged ecosystems like the Florida Everglades.
An Evolution of a Commercial Fishery by Wes EriksonFAO
This document provides an overview of the evolution of commercial fishing in British Columbia over the past 40 years. It describes how the fishery has moved from an open access system with no limits in the early days, to increasingly restrictive management through gear limits, seasons, and area closures. This led to overfishing, safety issues, and low prices. In the 1980s/90s, the fishery introduced individual quotas (IQs) and catch shares which addressed these problems by removing competition and incentivizing accountability and selectivity. Further integration of multiple fisheries into one rights-based, fully accountable system improved data collection, enforcement, markets and cooperation. The keys to the system's success are identified as removal of competition,
This document summarizes key concepts regarding fisheries management. It defines important terms like fish stocks, exclusive economic zone (EEZ), and mechanisms for harvesting fish. It discusses challenges like bycatch, overfishing, and factors contributing to declining fish populations. Strategies for conservation are outlined, such as gear restrictions, catch limits, and protecting essential fish habitat. The document also reviews agencies and laws involved in fisheries management, such as the Magnuson-Stevens Act and its goals of preventing overfishing while achieving sustainable yields.
1) The document provides a whistle-stop tour of issues in marine management including overfishing, bycatch, benthic damage from fishing gear, expansion of fisheries to deeper waters and seamounts, and fishing down the food web.
2) It then summarizes approaches to ocean governance including how the ocean is divided, regional fisheries management organizations, international advisory bodies, and major policy documents.
3) Finally, it presents a case study of the West Greenland coldwater prawn fishery which underwent assessment for Marine Stewardship Council certification. The certification involved an ecological survey of the benthic habitat using camera and grab samples.
Strategic Governance and Legal Issues of Rights-based Approaches – A Canadian...FAO
This document provides an overview of fisheries governance and Aboriginal fishing rights in British Columbia, Canada. It summarizes the history of Aboriginal fishing cultures, the lack of treaties signed in BC, and current negotiations of treaties and litigation to address Aboriginal rights. A key development was the 2014 court recognition of an Aboriginal right to fish commercially for five First Nations. This established precedence and strengthened Aboriginal tenure rights, though negotiations continue over allocating fish to accommodate the commercial right. The document examines implications for fisheries management and the ongoing trial to further clarify Aboriginal rights and potential justifications for infringements.
Fisherman Quotas, A tentative Suggestions for Domestic ManagementNancy Forvil
1. The document discusses different systems of fisheries management that allocate exclusive use rights to encourage collective management efforts. These include FADTURFs where fishermen invest in fish aggregation devices; RENTTURFs where fishermen agree to limit catches to increase prices; and EQUITYTURFs which maintain community stability.
2. It also discusses a successful example of "collective fishing" management in Japan where fishing vessel proceeds are pooled and distributed equally, improving efficiency and preventing accidents and conflicts.
3. While some argue exclusive use rights are not necessary, the document counters that input-based rights are unstable over time as fishermen increase investments to gain larger shares, ultimately risking stock depletion. Pro
The document discusses threats to aquatic biodiversity from overfishing, pollution, habitat destruction, and invasive species. It provides examples of both degradation, such as the collapse of Atlantic cod fisheries, and conservation success stories, like protections for whales that led to population recovery. The document advocates for establishing marine protected areas, reducing pollution and overfishing, and restoring degraded habitats to sustain aquatic ecosystems and the services they provide.
Garrett Hardin's 1968 essay "The Tragedy of the Commons" explores issues of environmental degradation caused by unlimited exploitation of limited shared resources for private gain. Using a parable of herders sharing a common pasture, Hardin illustrates how individually rational decisions to maximize private profits can destroy a shared limited resource. Unless restraint is exercised through rules, privatization, or social interdependence, the commons is vulnerable to tragedy. Examples include overfishing, pollution, deforestation, and population growth exceeding ecological limits.
The document discusses wetlands and their importance for marine life. It defines wetlands and lists their environmental benefits. It describes red mangroves and how they serve as nurseries for organisms like spiny lobster, queen conch, and Nassau grouper. The document identifies issues like a lack of wetland protection laws and declining fish populations. Research was conducted through surveys, interviews, and analyzing environmental laws. It was found that wetlands are not being utilized for food security or species protection. The conclusion calls for educating the public, strengthening laws, and designating more protected wetland areas.
Destructive and prohibited fishing practicesB. BHASKAR
This document discusses various destructive fishing practices and their environmental impacts. It begins by noting that overfishing is depleting fish populations around the world and illegal fishing threatens food security. Bottom trawling is described as particularly destructive, homogenizing seabed habitats and eliminating structure-forming species. Bycatch is a major issue associated with bottom trawling and shrimp trawling. The document also discusses other gear types like dredges, traps, and pelagic trawls, and notes that regulatory measures and certification programs aim to reduce their environmental impacts.
Full details at http://www.victoria.ac.nz/chaplains/whatson/do-something-fish.html
A Human FM-sponsored DO SOMETHING! event at the VUW Anglican Chaplaincy.
www.dosomething.org.nz
Indigenous Rights and Property Rights in the Fisheries: A Case Study From Mi’...FAO
This document summarizes a presentation comparing indigenous rights and property rights approaches to fisheries management using a case study from Mi'kma'ki (ancestral homelands of the Mi'kmaq people in Atlantic Canada). It discusses how an Individual Transferable Quota (ITQ) system introduced property rights that concentrated ownership and harmed small-scale fisheries and communities. Meanwhile, the Marshall Decision affirmed Mi'kmaq treaty rights to a moderate livelihood fishery. However, government response undermined these rights by limiting options to property-based agreements. The document argues that a property rights approach is at odds with indigenous rights and highlights Mi'kmaq resistance and alliances with other small-scale fisheries
1. Aquatic ecosystems provide important ecological and economic services but are poorly understood. Further scientific study could lead to benefits.
2. Human activities like pollution, development, and overfishing are severely degrading aquatic habitats and reducing biodiversity.
3. We can sustain aquatic life by creating protected areas, managing development, reducing pollution, and preventing overfishing.
This document discusses different aspects of fishery management and regulation. It begins by outlining the three main activities of fishery management: regulation of fishing, environmental management, and artificial stock enhancement. It then discusses the origins of public policy around fishing and ownership of fish resources. The document goes on to outline current objectives of fishing regulation such as conservation and allocation of fishing rights. It also describes different methods that are used to regulate fishing.
This Is a Useful PDF describing various Fishing informatio, fishing terminology and fishing techniques, which will hopefully make it easier for yyour hatteras fishing experience!
http://hatterasfishingreport.com/
This document discusses a collaborative effort between The Nature Conservancy, fishermen, and government agencies to reduce the effects of bottom trawling off the Central Coast of California. They worked together to designate 1.5 million hectares of seafloor as protected areas closed to bottom trawling, while addressing the economic impacts on fishermen. The Nature Conservancy purchased fishing permits and vessels from willing sellers, contingent on the protected areas being adopted. This reduced trawling effort by 50% and set a precedent for public-private partnerships in fisheries management. It was the first time a large conservation group took an ownership position in a fishery.
This document discusses various methods for managing fisheries resources, including input controls, output controls, ecosystem management, and participatory management. It focuses on management approaches used in India, including regulating destructive fishing gears, establishing minimum sizes, and involving local communities. Effective management requires balancing biological, economic, and social objectives, while considering different levels of management from local to national. Maximum sustainable yield and maintaining spawning stock are key goals.
National Party response to legasea TTS principlesLegaSea
This document discusses several issues around managing New Zealand's fisheries sustainably. It acknowledges that many fish stocks have been overfished and supports rebuilding them to sustainable levels. It also wants to reduce waste from commercial fishing and establish fair size limits for both recreational and commercial fishers. While recognizing the economic importance of commercial fishing, it argues that the value of recreational fishing should also be considered in management decisions.
+The state of the ocean’s ecosystems
+The design space – Fishery? Sustainable?
+Fisheries and their stakeholders – and supply chains
+The battle over sustainability – strategy and tactics
+How to design sustainable fisheries
Similar to Chris Williams: Ownership Models for Natural Resources: Fisheries (20)
This document discusses the relationship between socialists and the concept of land value taxation (LVT). It argues that while some Georgists have criticized socialism, socialists' goals of full employment, common ownership of land wealth, and a fairer society are well-aligned with LVT. The document notes that Henry George worked with trade unionists and that socialists like Marx supported the idea of abolishing private property in land. It concludes by asking whether Georgists want socialists and allies to advocate for LVT, as their objectives could be advanced through this policy.
Bill Blatts: Auction Charges for Airport Landing SlotsMoral Economy
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Nicolaus Tideman: Resolving the Apparent Conflict between Land as Our Common ...Moral Economy
Nicolaus Tideman: Resolving the Apparent Conflict between Land as Our Common Heritage and Land as Private Property. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
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Antony V. Trowbridge: African Progress from Poverty: New Rural Towns with E-villages. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
Dr Tony Vickers: Transport Infrastructure Funding and Value Maps for Land Man...Moral Economy
Dr Tony Vickers: Transport Infrastructure Funding and Value Maps for Land Management. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
This document discusses the causes and cures of inequality. It argues that inequality arises from the private ownership of natural resources and location value created by the community. It proposes that collecting the annual location value of land through land value taxation would reduce rents, free up land for use, remove the downward pressure on wages, and ensure future generations can afford housing. This reform would address issues with interest, rent, taxation and money supply that stem from the accumulation of wealth generated by others' work.
Gary Flomenhoft: Integrated Financial Bio-Physical ModelMoral Economy
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Adam Parsons: Sharing the Commons: Wealth, Power and Natural Resources Moral Economy
Adam Parsons: Sharing the Commons: Wealth, Power and Natural Resources. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
Emer O’Siochru: Land Value Tax in Ireland: Recent Failure and Future ProspectsMoral Economy
Emer O’Siochru: Land Value Tax in Ireland: Recent Failure and Future Prospects. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
Prof. Molly Scott Cato: Economics for Justice and SustainabilityMoral Economy
Prof. Molly Scott Cato: Economics for Justice and Sustainability. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
Alanna Hartzok: The Alaska Permanent Fund: room for improvement?Moral Economy
Alanna Hartzok: The Alaska Permanent Fund: room for improvement? A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
Amir Taha: The future of the Egyptian economyMoral Economy
Amir Taha: The future of the Egyptian economy. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
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Luka Bulus Achi: Access to land and security to land tenure in Nigeria. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
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Sung-Chan Cho: History and current focus of land value tax in S. Korea. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
Fernando Scornik Gerstein: The spanish depressionMoral Economy
Fernando Scornik Gerstein: The Spanish depression. A presentation at the TheIU.org 2013 Conference 'Economics for Conscious Evolution', London, UK, July 2013.
An astonishing, first-of-its-kind, report by the NYT assessing damage in Ukraine. Even if the war ends tomorrow, in many places there will be nothing to go back to.
Essential Tools for Modern PR Business .pptxPragencyuk
Discover the essential tools and strategies for modern PR business success. Learn how to craft compelling news releases, leverage press release sites and news wires, stay updated with PR news, and integrate effective PR practices to enhance your brand's visibility and credibility. Elevate your PR efforts with our comprehensive guide.
04062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
Acolyte Episodes review (TV series) The Acolyte. Learn about the influence of the program on the Star Wars world, as well as new characters and story twists.
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
7. This presentation covers:
• Context for the presentation
• A brief overview of property rights
• Issues that arise with property failures
• A focus on fishing
• Ownership and co-management
• Quota as property
• Quota in the UK
• Issues with private property rights in
fisheries
• Conclusions
Ownership models
10. We are living of the natural capital
(stock), not the interest (flow)…
STOCK VARIABLE OF THE
RESOURCE
FLOW VARIABLE OF
THE RESOURCE
/OUTPUT
11. • Human activity is changing
ecosystems worldwide.
• Ecosystems are particularly affected
by large-scale
fishing, freshwater use, and
agriculture (MEA 2005).
• Degradation often occurs in settings
of unclear ownership regimes.
12. Property is fundamental
• Property rights are central to the way that market
economies work.
• Without clear and enforceable rights to
property, and the freedom to sell these rights to
somebody else, a market cannot function.
13. Aside from the practical challenges surrounding its
enforcement, there are clear theoretical problems
with the property rights system.
Conventional economic theory associates these
with „non-rival consumption‟, access rights, and the
unintended side-effects of use.
These (as we will see later) are all of relevance to
fisheries.
Private property failures
14. • …refers to the capacity of some goods to not
be depleted through use, e.g. lighthouses
• Additional consumers = no impact on the
availability of the commodity, so enforcing
private property rights does not guarantee a
fair or efficient use.
• For that to occur, the commodity must be
consumed as it is used, enabling the supply
and demand price mechanism to function. If it
does not, the commodity will almost certainly
be under-supplied by the market alone.
Non-rival consumption
15. Access Rights
• …refers to the ability of the property owner to regulate
access and use of the property, e.g. fences
But at least some things are
extremely hard to prevent
access to. e.g. the road network
or open seawater.
(*these are termed public goods
In economic models)
16. • Because of the impossibility of restricting access to public
goods, their use may become economically excessive.
• The sea becoming overfished, for instance, is a classic
example of the “tragedy of the commons” in which free
access leads to excessive consumption.
• A single fisher does not intend to deprive others of a
livelihood, but the effect of their fishing activities is to
reduce the number of healthy, breeding fish in the sea,
which in turn contributes to a steady depletion of stocks
over time.
17. Tragedy of the
Commons, Garrett Hardin
1968
• In other words, the action of fishing has a negative
externality – an unpaid cost that is paid for by others.
• Positive externalities sometimes exist, too: a lighthouse
may be paid for by taxpayers in one country, but sailors
from other nations would also benefit
18. • In many cases, a private property regime may not be the
best way of sharing out resources, due to the difficulty of
enforcing meaningful property rights.
• As environmental issues (and fishing in particular) very
often have this feature, private ownership models might
not be the most suitable way to deliver environmental
sustainability or social justice.
• There is, however, a classic argument in favour of
granting property rights on public goods called the
„Coase Theorem‟.
Different allocation mechanisms
19. Coase Theorem
• Impose at least some kind of property rights system over
public goods, in order to allow users to trade their rights.
• Even if imperfectly enforced, Coase Theory maintains they
would lead to a socially more optimal outcome than would
otherwise occur.
• The Theorem provided the theoretical rationale for the
introduction of carbon trading, in which a public good (the
earth‟s atmosphere) was subject to a trading regime. It is
so far unclear if the attempt has been successful...
20. Why are property rights relevant to the
marine environment and fisheries?
• Fisheries around the world have a dizzying array of
management structures.
• Generally, these fall into private, public, or community
cooperatives / co-management.
• In some cases, this has led to sustainable use of
resources, allocated by public bodies (or government by
proxy), rather than market-based mechanisms.
• In other cases, such as the EU, public management has
failed to reverse the decline in fish stocks.
21. Example: the cooperative or „common
ownership‟ approach
Alaskan salmon
In 1938 - 120 million fish harvested.
Within 20 years - only 20 million fish.
This resource was critical to coastal
communities this was a key driver
in Alaska‟s movement for becoming a US
state..
Pressures on the habitat, overcapacity, conflicts, inequality between
different gear types, and different harvesting methods were all
contributing to the decline. The complexity was hampering sustainable
management of the salmon fishery.
Conaty, P. and Lewis, M. (2012). The Resilience Imperative: Cooperative Transitions to a
Steady-state Economy. Gabriola Island, BC, Canada: New Society Publishers.
22. But, the fishing community decided to:
• Limit entry of new vessels
• Create hatcheries
• Start ocean ranching
• Work on stock enhancement
• Co-op Ownership with local Govt
• Common property harvest (70%)
• Set up RAAs
• Ownership change > outcome changed
• Success story for communities and salmon
• Co-management ideas are now widespread, with local or national
government, NGOs, and other stakeholder groups sharing
responsibility and the costs and benefits.
• This is more „physical‟ ownership, and there is a whole other side to
it…
Public ownership failed to halt the
decline! Privatisation was on offer..
23. But there is more to it…
…the issue of Quota
Lets look at the UK as an example
25. A brief history of UK fishing
• In the old days, when offshore fish stocks were large and fishing
fleets were small, there was no call for either private ownership
or government regulation.
• Private ownership of fisheries was effectively banned by the
Magna Carta, in the 13th century.
• This action was followed by hundreds of years of free fishing in
English waters.
What came next?
• Industrialisation
• New gear
• Competition
• Declining catches
• CPUE
27. What has declining CPUE lead to?
• „The race to fish‟
• …the vicious cycle of getting bigger boats, better
technology to out perform each other
• Where resource rent is not dealt with
explicitly, the incentive for each fisher to attempt
to catch fish before others do ensures that such
rent is eventually all dissipated - i.e. it is invested
in excess fishing capacity leading to
overexploitation in both economic and biological
terms.
28. • Gear
• Seasons
• Geographical
> Difficult as fishers want „assurance‟
Options: pay royalties on catch or restrict access
(licensing)
• Limit on licenses and effort
• Limit number of traps or nets
The need for regulation:
29. Quotas
• Limit catch per vessel
• Fishermen buy (or rent) quota for a
particular species
• More tricky to enforce than closed
seasons..
• Catch according to supply and
demand
30. Quota - is it private property?
• 17th century - two conditions for holding property in a thing.
(1) power to appropriate the thing and hold it in possession against
others
(2) scarce and exhaustible, so that it was worth-while going to the trouble
of holding it as property.
• Taken together, helps to explain why fresh-water fisheries, in
rivers, lakes are often private property
• Same for tidal and inshore areas (land ownership)
• Therefore the English common law says that wild animals and wild
fish (even fish reared in a hatchery) cannot be subject to property
law until they have been caught and brought into the possession of
the landowner, hunter or fisherman. This reasoning lies behind the
common-law origin of the current “law of capture”.
31. ITQs – Individual Transferrable
Quota
• The big change: ITQs
• Exclusive
• Powers to act as an owner
• Duration and security = ability to manage it
• Transferable
• Effectively private property
• They can be bought, sold and leased
• Permits and licences are seen as property rights
that are weak and have little of these
characteristics.
33. So, who owns the
right to fish?
• Industry is divided
<10>m
• Landmark ruling in
July 2013
• POs to <10s
• Enforced
redistribution
• „No one owns the
right to the fish in
the sea‟
34. • Transferrable Fishing Concessions –
TFCs
• „‟mandatory‟‟ TFCs are not going to
happen
At EU level…
35. Types of Quota allocation:
• ITQs are one of many types of quota allocation..
• 3 common characteristics regardless of name:
quotas, individual, transferable.
• TFCs; ITQs; IVQs; Catch shares…
• Lets have a look in more detail…
36. Type Allocated to Transferable
Individual Quota (IQ) Individual No
Transferable Quota (ITQ) Individual Yes
Individual Vessel Quota
(IVQ) Vessel Sometimes
Cooperative Group Sometimes
Community Fishing
Quota (CFQ) Community Sometimes
Territorial Use Rights for
Fishing (TURF)
Individual, Group or
Community Sometimes
37. The private property approach to fishing
quotas – „Catch Shares‟ (EDF)
What is a catch share?
• Managers allocate a secure privilege to harvest a specified amount
of a fishery's total catch to an individual or group
• managers establish a fishery-wide catch limit; assign portions of the
catch, or shares, to participants; and hold participants directly
accountable to stay within the catch limit.
What are the main points of this approach?
• The main aim is deregulation.
• Catch limits are set.
• The limited catch is shared among fishermen.
• Shares can be held by individuals, communities or associations.
• It give responsibility to the users.
• It gives them the freedom to fish when and how they want.
• They must, however, stay within agreed limits.
• They can be more profitable as a result.
http://www.edf.org/oceans/catch-shares
38. What do proponents of catch
shares say?
• ITQs have met some goals in terms of
conservation, safety and financial performance for
fishermen.
• They work well in enforcing „keeping to catch limits‟; this
contributes to adhering to TACs; this helps for fish stock
conservation.
• Quotas also give the fishers more flexibility to fish and
thereby meet market demand without „gluts‟ and the
corresponding impact on price.
39. A cautionary tale about ITQ fisheries
- Ecotrust Canada (2009)
‘’ITQs are being promoted as a panacea for global
fisheries. However, analysis of BC fisheries raises serious
questions about this approach.’’
• Background: in BC the „race to fish‟ meant that ITQs were brought
in, securing a % of TAC to individual fishermen.
• If properly designed they can be part of a multi-level approach, but if
badly designed they can lead to as many problems as they solve.
• Most criticism relate to the fairness and equity, especially
regarding the crew shares, the impacts on coastal communities
and first nations >> Distribution! (e.g. Maori)
40. What are the main lessons learned from B.C.?
1. Catch shares promote „slipper skippers‟ (absentee ownership)
and quota leasing of „secure asset‟. Even processors lease and
sub-lease quota, passing on the costs to the fishermen. This turns
working fishermen into „tenants‟ paying exorbitant „rents‟ to those
who don‟t even fish the resource (who in turn guarantee
themselves revenue for no risk).
2. ITQs give fishermen a false sense of security; quotas provide no
more legal protection than licenses. They also do not mitigate
ecological uncertainty (impacts of climate change, habitat
damage, ...).
Further, the agreement of ‘lease rates per lb of fish’ could be affected
by oil price hikes etc and actually increase risk for fishermen to market
forces.
However, there are issues with ITQs
41. 3. ITQs facilitate privatization; quotas are not de jure property, but
they are de facto property as they can be divided, capitalised and
transferred more easily..
4. ITQs increase capitalisation in fisheries; investment in quota
licenses has ballooned – these ‘intangible assets’, estimated at
1.8billion $ in 2007. More than 5x the value of the vessels and
equipment in BC fisheries.
5. Quota leasing hurts working fishermen- relative to those gifted
the initial quota. Crew shares usually drop as revenues are used for
quota leasing (often the main cost in BC).
6. ITQs do not guarantee better science, monitoring or enforcement.
7. ITQs actually offer fishermen market incentives to engage in
risky behaviour; e.g. higher fish prices in the winter due to less fishing.
As so much $ is needed for quota leasing, costs are saved elsewhere
(the crew, safety, training, ..)
42. 8. It is actually sound science and co-management that
underpins the sustainability of a fishery; science-based TACs and
inclusive, transparent co-management / governance are far more
important in fisheries conservation and sustainability. The causal link
to ITQs doesn‟t always stack up.. E.g. bad science = bad TAC =
overfishing continues.
• Quota markets still need to be regulated, and designed to
prevent monopolies, corporate concentration and other
market failures.
• Distribution needs to be taken into account.
• ITQs are only one type of input-output control available to
managers.
• Policy makers need to weigh up the costs and benefits of
ITQs, regulate quota markets and ensure that fisheries are
managed to meet social, environmental and economic
objectives.
43. What is happening in the EU
• Currently, neither the European Union (EU) nor its
member states place any conditions on fishermen
to deliver social and environmental benefits to
society, in spite of the public ownership of the
resource.
• Without these, the process of allocating quotas –
essentially giving permission to exploit a
commonly owned resource – is blind to virtually all
of the impacts of fisheries and risks the future
health of marine resources and the fishing
industry.
• New CFP says they will have to…
44. nef‟s view and work
Societal, value-based criteria are necessary components of
EU fisheries management. We need to align fishermen‟s
interests with society‟s objectives.
45. Its ideological…
“The equal right of all men to the use of
land is as clear as their equal right to
breathe the air — it is a right proclaimed
by the fact of their existence. For we
cannot suppose that some men have a
right to be in this world, and others no
right.”
(Henry George)
46. • The debate is fuelled by ideology
• Sounds science and good governance /
institutions are the real pre-requisite (i.e.
inclusive transparent co-management
including Govt, industry and stakeholders
plays the key role)
47. Thank you!
Chris Williams
Marine Socio-economics Coordinator
chris.williams@neweconomics.org
+44 (0)20 7820 6404
Team: Natural Economies
48. Rent
• The issue of resource rent is strongly related to access conditions in the
fishery. The free and open access nature of many fisheries leads to
overexploitation. It raises questions of defining ownership and property and
use rights.
• Ownership issues in turn lead to problems of who is able to „charge' for the
use of the resource, who bears the costs of use and who reaps the benefits.
• Management objectives in a fishery are ultimately of a social and economic
character, and their achievement on a sustainable basis requires the explicit
consideration of resource rent – its generation and distribution.
• The achievement of these objectives is subject to constraints, especially
ecological sustainability. Because of widespread overexploitation, this latter
constraint often features as a policy goal.
• Policy decisions must be made about how the wealth from the fishery is
collected and how that wealth is distributed.
• Access rights for coastal / indigenous people, quotas (TACs) etc…
Editor's Notes
First aware of the issue: Ownership of the land and access to the resources granted by Queen Victoria in the 1880s. Why I became interested in it…biologist not economist…
Ownership – vessel owners vs divers; ownership of land in Moz (state & privatisation);
MPAs and inshore fisheries – ownership issues in the UK as we shall see later…
Nef; Envt Econ team, run: Economics for fair and sustainable fisheries, research and publications to support advocacy and lobbying of others (eg Ocean2012)MSEP – work with NGOs
Role at nef, teaching economics to NGOsPart of which is a series of briefings on economics: ownership and property rights ( see briefing 10) + marine case studies was one of those… if you want to read it, web link here
Context
Renewable resources such as fish stocks can replenish themselves, as long as a critical stock of the fish population remains intact. Identifying stock variables and flow variables allows the definition of the ‘replenishment rate’: for as long as the average rate of extraction does not exceed the average rate of replenishment, renewable resources can be sustained over time.
Property rights for natural resources > ownership is an issue!
In both cases whilst it would be at least theoretically possible to restrict access, in practice the immensely high costs of enforcement generally prevent anyone from attempting to do so. In economic models, such resources are often termed “public goods” (described in the case study below). (These are not to be confused with the moral concept of “the public good”)
Hardin illustrated the “Tragedy of the Commons” using the example of a piece of pasture land: each herdsman tries to maximize his personal utility by keeping as many animals as possible on the common land. In this model the herdsman’s utility is increased when adding each additional animal to the pasture land. At the same time, his utility is decreased by additional overgrazing created by one more animal on the pasture land. Yet the effects of overgrazing are shared by all herdsmen. Thus for the individual herdsman the decrease in utility through overgrazing is only a fraction of the positive utility change created by adding an animal.In Hardin’s tragedy of the commons, the negative externality is the social cost that is imposed on all herdsmen by the increasing degradation of the pasture land. Coase argues that in order to get the problem right, one has to move beyond the conventional understanding of an externality that can only be countered by regulation. In contrast to classical regulation (taxation, subsidies) he suggests that a more Pareto efficient solution would be that individuals – those causing the harm and those being affected by the harm – come together and negotiate privately.
CPUE declining for many species – possibly the only industry where increased effort and technology is not leading to greater efficiency..
Private ownership (e.g. catch shares) and common ownership (presented next), are two contrasting models when it comes to how they approach the concept of property rights. As you learned from the briefing on market failures and regulation, externalities such as pollution or overfishing actually cause a massive amount of damage now and for future generations, but are not included in the price. This systemic problem with the current economic approach has brought fish stocks to a critical situation. For this reason, taking the ‘free-market approach’ even further as a solution has produced some criticism.
ITQs below: Individual transferable quotas (ITQs) are one of the property rights instruments that have been employed to improve economic efficiency in fisheries. ITQs are not high-quality property rights in the basic fundamental marine resources on which fisheries are based. As a result ITQs cannot be expected to generate full efficiency in the use of these resources. This article examines to what extent ITQs are capable of generating economic efficiency in fisheries. It is shown that ITQs can greatly improve efficiency in fishing. Moreover, by including recreational fishers in the system, ITQs can strike an efficient balance between commercial and recreational fishing. On the negative side, it is shown that on their own, ITQs are not capable of generating full efficiency in fisheries. In particular, ITQs are not sufficient for setting the socially optimal total allowable catch, ensuring the optimal use of the ecosystem, or harmonizing fishing with conflicting uses of marine resources such as marine tourism, mining, and conservation. Potentially counteracting these limitations, ITQ holders as a group have an incentive to manage overall ecosystem use for the long-term benefit of their fishery and negotiate the adjustment of their fishing activity toward the interests of conflicting uses of the marine resources. Property Rights in Fisheries: How Much Can Individual Transferable Quotas Accomplish?RagnarArnason*