Sea Change
ByPublisher Description
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.
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About Richard Wellings
Richard Wellings is Acting Academic and Research Director at the Institute of Economic Affairs. He was educated at Oxford and the London School of Economics, completing his PhD in 2004. He is the author, co-author or editor of several papers, books and reports, many of which focus on transport, energy and environmental policies.
Philip Booth
Professor of Finance, Public Policy and Ethics and Director of Research and Public Engagement at St Mary’s University, Twickenham, and Senior Academic Fellow at the Institute of Economic Affairs.
Other books by Philip Booth
Paul Dragos Aligica
Paul Dragos Aligica is a Senior Research Fellow at the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University, where he teaches in the graduate programme of the Economics Department. He specialises in institutional theory, public choice and comparative economic and governance systems. He has authored seven books, including Institutional Diversity and Political Economy: The Ostroms and Beyond (Oxford University Press, 2014), and has written for the Wall Street Journal Europe and a wide variety of academic journals, including American Political Science Review, Public Choice, Revue française d’economie and Comparative Strategy. Aligica has been a consultant for the United Nations Development Program, the World Bank, European Union organisations and the United States Agency for International Development (USAID). He received his PhD in political science from Indiana University Bloomington.
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H. Sterling Burnett
H. Sterling Burnett has a doctorate in applied philosophy from Bowling Green State University. He specialised in environmental ethics. He is currently a research fellow in energy and environmental issues at the Chicago-based research organisation, The Heartland Institute, and is managing editor of its lead environmental publication, Environment & Climate News. Before joining The Heartland Institute, Burnett served for 18 years as the senior fellow responsible for the environment programme at the National Center for Policy Analysis in Dallas, Texas.
Birgir Runolfsson
Birgir Thor Runolfsson is an Associate Professor of Economics at the University of Iceland. He has an undergraduate degree in economics from Lewis and Clark College and a masters degree and PhD in economics from George Mason University. He has published papers and edited books on fisheries management, as well as papers in the area of public choice and institutional economics. He has also participated in projects and written several reports on fisheries management issues both in Iceland and internationally.
Ion Sterpan
Ion Sterpan is an economics PhD student at George Mason University and a graduate fellow at the Mercatus Center’s F. A. Hayek Program. He studied philosophy at Central European University in Budapest and at the University of Bucharest and worked in Bucharest with the Center for Institutional Analysis and Development. His research topic is polycentric institutional systems, which he approaches from an Austrian and Virginian political economy perspective.
Rachel Tingle
Rachel Tingle studied economics at the University of Exeter before becoming a research fellow at the University of York and taking a master’s degree at the University of Surrey. She has had a varied career as an economist and journalist, which has included teaching at the Universities of Buckingham and Brunel, as well as working in the City, in economic consultancy, for a number of senior Conservative politicians, and in television, print and web journalism. For many years she has specialised in writing about the interface between economics, politics and Christianity and has written hundreds of articles and two books in this area.
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