Privatize the Seas?

Greg Easterbrook thinks Individual Transferable Quotas (ITQs) hold the key to saving vanishing fish stocks. He makes the case in the current Atlantic, part of an article called 15 Ways to Fix the World. After describing a delicious halibut dinner in Girdwood, Alaska, he writes: Good restaurant? Yes, but even better fishery management. About a decade ago, the Alaskan halibut catch was switched from a system of “catch all you can” in a very short period, to a system of tradeable permits. Now halibut season does not happen over a few chaotic days marred by colliding boats and overlapping lines, followed...