Question

Define and explain the dynamics of the fish stock is a large footnote to the basics of the private property fishery

Answer 1

• When fishing fleets were small, and off-shore fish stocks were large; there was no call for Government regulation, or, private ownership; exclusion policies reflected economic protectionism
• Fish wars were not for possession of dwindling fish stocks; these were to capture other country's vessels; possession of places for vessels to dry fish, or, to winter

• Fish stocks were so robust, and, large that fishing hardly affected the catches
• When offshore fishermen were directly competing with each other for the catch, they pressurized Governments to ban part-time fishers, and, foreigners
• Regulations applied to offshore fishing are gear control, and, the closed fishing season
• Other two ways are restricting access, limiting licensing, and, royalty
• Some Governments invested in hatcheries
• The purpose of the regulation was to help reproduction of large fish

Q measure - a measure of a property right

Property rights - Characteristics

Fish stocks

There are technical, and, social problems to the enforcing property rights. Owing to lack of adequate technology fish stocks are still devoid of property rights.

Comedies of the commons: the users may exploit the resource beyond the point of sustainable use; collective resources not within the domain of rational management. Fish stock is a footnote. There are a number of factors involved.