By Stephen Leahy
Dec 11 (IPS) – Catch less fish. Make more money.
Could this be the solution to the global overfishing crisis?
Australian economists writing in the current issue of Science magazine think so.
Reducing fish catches in the short term will bring fishers big profits later. And that profit potential may finally persuade an intransigent fishing industry to agree to lower catch limits, they say.
“Bigger stocks mean bigger bucks,” says co-author Quentin Grafton, research director at the Crawford School of Economics and Government at the Australian National University (ANU).
“Our results prove that the highest profits are made when fish numbers are allowed to rise beyond levels traditionally considered optimal,” Grafton said. Continue reading