Sea Change: How Markets and Property Rights Could Transform the Fishing Industry

Name: Sea Change: How Markets and Property Rights Could Transform the Fishing Industry
Brand: Iea
SKU: 9780255367400
Price: 1450.0 INR
Availability: InStock

by Richard Wellings

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ISBN13: 9780255367400
Binding: Paperback
Subject: N/A
Publisher: Iea
Publisher Imprint: Iea
Publication Date: March 30, 2017
Pages: 166
Original Price: GBP 10.0
Language: English
Edition: N/A
Item Weight: 188 grams
BISAC Subject(s): Economics / General

About The Book

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.

About The Author

Wellings, Richard: - "Richard Wellings is Deputy Director, Academic and Research, at the Institute of Economic Affairs and Director of IEA Transport. He was educated at Oxford and the London School of Economics, completing a PhD on transport policy in 2004. He is the author, co-author or editor of several papers, books and reports, including Towards Better Transport (Policy Exchange 2008), Which Road Ahead - Government or Market? (IEA 2012), The High-Speed Gravy Train: Special Interests, Transport Policy and Government Spending (IEA 2013) and Seeing Red: Traffic Controls and the Economy (IEA 2016)."

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