Tragedy of the commons-Over fishing of the oceans-the

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Published on February 6, 2014

Author: juliapeters

Source: authorstream.com

Tragedy of the commons-Over fishing of the oceans-the current crisis in the EU fishing industry.: Tragedy of the commons-Over fishing of the oceans-the current crisis in the EU fishing industry. Matthew James Tragedy of the commons: Tragedy of the commons What is the tragedy of the commons? Why is over fishing a problem: Why is over fishing a problem Examples of Overfishing: Examples of Overfishing Atlantic Cod Between the mid 1970s and early 1990s, a series of poor management decisions and inadequate understanding of complex marine ecosystems led to the collapse of the cod fishery, devastation of livelihoods, a flux of environmental refuges, and long-term impacts on the northwest Atlantic ecosystem off the coast of the northern United States and Canada Overfishing in the eu: Overfishing in the eu Overfishing of EU fisheries is costing £2.7bn (3.2bn euros) a year and 100,000 jobs, a report has said . The European Parliament has voted against new subsidies for the fishing industry, opting to deliver funds to conservation research and the protection of fish stocks instead . The vote follows months of debate about a 6.5 billion euro fund which was earmarked for the EU's Common Fisheries Policy (CFP), an agreement which regulates how Europe's waters are fished. While scientists and conservationists argued for curbing Europe's fishing fleet size, coastal communities reliant on fishing say the new decision will financially ruin them . How over fishing is related to market failure: How over fishing is related to market failure In a perfect market there is allocative efficiency as the marginal social costs are equal to the marginal social benefits. How over fishing is related to market failure: How over fishing is related to market failure Over fishing relates to a negative externality in consumption as there is too much consumption of a demerit good and so there is over-consumption. Consumers are only thinking about their costs and benefits. There is welfare loss that needs to be reduced. Fishermen know that the fish that are there that day, may not be there tomorrow because another fisherman may catch them. So even though in the long run it will destroy their business, its in the fishermen's interests to catch as many fish as possible to make as much profit as possible in the short run. What policies can be used to fix the market failure.: What policies can be used to fix the market failure. Shift from short term to long term Restrictions can generally be divided into three categories: What policies can be used to fix the market failure.: What policies can be used to fix the market failure. Subsidies for owners to stop fish being taken away from their habitats, only to catch them and out them back. Increase in the number of fish farms to increase the number of fish. Have the Policies been effective: Have the Policies been effective Have the government solutions to over-fishing made the situation worse No clear attempt in most places, however EU have started to implement policies Possible government failure Higher than what scientists advise To conclude: To conclude In a sense government solutions have not done enough as over-fishing is only one cause for the general decline in fish stocks as there is also global warming, and illegal fishing. Global warming has had serious implications on the quality of sea life, and has encouraged the dependency on fish farms to provide common fish. The issue here is that the fish farms still fish to provide smaller fish to larger fish such as tuna. This has started a vicious cycle which the government has not successfully intervened, and if anything encouraged fisherman to not follow quotas. There is also the ban of catching certain fish; again this government intervention further contributes to the market failure as it simply makes those fish more desirable. There is also a lower price on farmed fish as they are considered a lesser good than natural fish. There has been no attempt to tax depending on unwanted fish taken, or hand out certain areas of water where companies have to personally decide how to take care of the land.

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