1.

Record Nr.

UNINA9910822343003321

Titolo

Sea change : how markets and property rights could transform the fishing industry / / edited by Richard Wellings ; with contributions from Paul Dragos Aligica [et al.]

Pubbl/distr/stampa

London : , : The Institute of Economic Affairs, , 2017

©2017

ISBN

0-255-36742-2

0-255-36741-4

Descrizione fisica

1 online resource (xviii, 144 p.) : map

Classificazione

56.36.20

Disciplina

338.371200973

Soggetti

Fish trade - United States

Fishers - United States

fishery management

maritime economy

common fisheries policy

intervention policy

production surplus

United Kingdom

withdrawal from the EU

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Nota di bibliografia

Includes bibliographical references

Sommario/riassunto

Government management of fisheries has been little short of disastrous. In many regions, valuable fish stocks have collapsed as a result of overfishing. Ill-conceived regulation also means that every year millions of tons of edible fish are thrown back dead into the sea. While an absence of established property rights means that wild fish are vulnerable to overfishing, the problem is greatly exacerbated by large subsidies. State intervention has created significant overcapacity in the industry and undermined the economic feedback mechanisms that help to protect stocks. This short book sets out a range of policy options to improve outcomes. As well as ending counterproductive



subsidies, these include community-based management of coastal zones and the introduction of individual transferable quotas. The analysis is particularly relevant to the UK as it begins the process of withdrawal from the European Union. After decades of mismanagement under the Common Fisheries Policy, Brexit represents a major opportunity to adopt an economically rational approach that benefits the fishing industry, taxpayers and consumers