This document discusses overfishing and various fishery management systems. It defines overfishing as removing organisms from the marine environment at an unsustainable rate. Consequences of overfishing include changes to ecosystem structure and loss of biodiversity. According to the FAO, over 70% of fish species are currently threatened by collapse. The document then describes different fishery management systems, including unregulated open access, regulated open access, limited entry, and individual catch shares. It evaluates each system in terms of resource protection, economic efficiency, and simplicity. Overall, the document suggests there is no single perfect system and the best approach depends on a society's objectives and specific fishery circumstances.