Competitive Enterprise Institute | 1899 L ST NW Floor 12,
Washington, DC 20036 | Phone: 202-331-1010 | Fax: 202-331-0640
The world's fisheries face severe decline. Because many of the
world's ocean resources are not "owned," they tend to be
overexploited—as everyone attempts to fish out of the ocean as
much as possible before competitors can consume the resources.
Several governments actively subsidize such destructive
practices in attempts to protect traditional fishing industries.
However, where genuine, tradable rights have been assigned to
ocean resources (as in New Zealand), owners of these rights help
ensure long-term conservation and at the same time increase
their profitability. Meanwhile, where those rights are
bureaucratically controlled, as with the National Oceanic and
Atmospheric Administration's (NOAA) "catch share" program,
fishermen have instead suffered needlessly. Similarly, private
establishment and ownership of artificial reefs have helped
preserve habitats, while government attempts to cr