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rent "The Freshman" and create your menu accordingly.
Problem:
Overfishing of various fish species.
In the normal action of free markets, if there is an economic profit to be made by producing a product it will be made.
If there is a demand for a certain type of fish, then there will be fishing to supply that demand.
At some point, the number/rate of fish caught commonly exceeds the rate at which those fish reproduce. This leads to a declining supply.
The overall demand for the fish will not change with increased prices, leading to more profit on a per fish basis, leading to more economic incentive to fish.
The scarcer the fish, the more profit there is in catching it. Eventually you get a collapse of a fish species, and occasionally, outright extinction.
What is the "free-market" solution for preventing this that requires no governmental intervention?
rent "The Freshman" and create your menu accordingly.
Hmm ... I am not sure. I'm actually grappling with problems like this one right now. On the one hand, I have great confidence in the ability of business and the free market to meet the needs of consumers. On the other hand, I am not sure that certain industries (e.g., fishing) have the requisite mechanisms to encourage (or force, if necessary) conservation. This is particularly true of the fishing industry.
At the same time, consider foresty. The paper companies do rather well replanting and maintaining their forests. Gone are the days when they clear-cut and moved out. It makes much more economic sense to take care of their own trees and land.
Long story short -- I don't know.
well this is racist
ohhhhhh. it said "righties". nevermind.
i don't think he's talking about catfish.
If price doesn't affect demand, then we are NOT talking about a free market, regardless of the commodity.
In my opinion, the same thing that prompted the ban on the taking of species such as the "Jewfish" and saw the rise of en ies like Ducks Unlimited and other conservation movements to prompt government en ies to enact legislation to protect species/commodities.
Or maybe not.
overfishing of various species.
not the ENTIRE industry.
I thought that might catch someone, and should have antipated it.
Remember, demand curves are independent of supply curves.
You are likely thinking of "quan y supplied", i.e. the "X" axis value of the intersection of the supply and demand curves. This does change depending on where the supply curve intersects the demand curve.
The underlying demand does not change.
Click for a quick refresher.
No biggie it is an easy mistake to make.
As the fish become scarcer and harder to catch, the price will increase, eventually DRAMATICALLY. Very few people will choose to pay the price for THAT fish; the fisherman who search for it will go to other high volume species (because they've invested in equipment to do so) - and the catch and supply of the special fish you describe will fall to more niche fisherman. The fish population will then recover.
The "demand" for Ferrarris, after all, is VERY high. The actual number that get produced and sold, however, is very small.
This is a case of the tragedy of the commons. The free-market solution is obvious.
How do we prevent hunting to extinction on land?
So true, I just came back from Seminole, Fla, and went to Leverocks Restaurant looking for a Fried Grouper sandwich, Grouper is a bit scarce right now and the cost for the sandwich was listed at "Market Price". Not being a fool I inquired as to what the MP was before ordering. I told my fellow Diners that if was over $16 I wasn't going to get it.
The fish will not recover. They will simply go extinct as have other valued animals in the past. Care to find a live carrier pigeon to prove otherwise?
Given a free market, and no government intervention at all, would there still be elephants? Tigers?
If you like I can give a list of fish whose populations have or are about to, collapse.
Please tell me what the difference between a demand curve and a quan y demanded is.
Give the deer guns?
You didn't ask about ivory, or the Asian man's desire for a real penis. You asked about fish.
Now, would every conservative on the board who has a major problem with hunting seasons please raise their hands?
Mistaken assumption #1: Wild fishing is the only way to supply fish.
Mistaken assumption #2: Demand curves do not move based upon information meta to price.
Apparently so.
Government intervention is required, and catches of Gag and Red Grouper are listed at 2 per day on the Fla. Gulf Coast.
Here's the article;
New rules would limit grouper catch
Friday, June 6, 2008
It's not etched in stone yet, but federal regulators went a long way Thursday toward setting new rules for grouper fishing that would begin in January.
Recreational anglers will be able to land four grouper a day, but no more than two gag and two red, the two most common species. All recreational grouper fishing would shut down between Feb. 1 and March 31.
Those are the "preferred alternatives" voted Thursday by the Gulf of Mexico Fishery Management Council. For bureaucratic reasons, the National Marine Fisheries Commission could still tweak the rules, but major changes are unlikely.
The council also set a commercial gag quota for the first time. The fleet could land 1.32-million pounds in 2009, rising slightly in later years. That is a bit more gag than were landed in 2007, but well below the average catch for the last five years. If the fleet exceeds the quota, regulators will shut down all commercial grouper fishing for the rest of the year.
http://www.tampabay.com/news/environ...icle609724.ece
If all the deer on a deer lease are gone, is anybody going to pay the landowner to hunt there anymore?
What might the landowner do to keep that from happening?
I did not outline my stated assumptions.
Captive fishing, such as is done with catfish, is certainly a free-market solution. I was hoping someone might point it out.
Demand curves do not move according to changes in supply. Quan y demanded does.
Perhaps you would care to elaborate a bit, and I am missing something?
To anybody who doesn't catch what free-market ideology would dictate, here is the answer:
Privatize the oceans .
That's probably a ridiculous and untenable idea, but it is the free-market solution.
Problem with this (When I was living/working in Florida and diving this is a real hot topic with the rec fishermen and spearos) is the gov't appointed council is punishing the rec fisherman and not the commercial fishermen, but it is interesting to see the rec guys score a win with the commercial limits (although since it exceeds the 2007 numbers it really isn't a win, but a start).
I feel you, just having fun.
In PA, you can hunt ANYWHERE that is not within 300 yards of a house, and isn't CLEARLY marked "No Hunting". Step onto somebody elses turf and open fire - fully legal.
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