The Depopulation of the North Atlantic Cod

1
The Depopulation of the North Atlantic Cod

• By
• Antone Morreale

2
The North Atlantic Cod

• Integral part of aquatic food web
• Once gone, gone FOREVER

3
Market Failures

• PUBLIC GOOD -no sole owner, common- property
  resource
• -fisheries extract as much as possible
• -no property rights--gt fishermen exploitation
  of cod

4
Market Failures cont.

• EXTERNALITIES-OVERUSE OF OCEAN
• desired coastal area--gt increased development
• -decrease in important spawning grounds
• population and industrial growth--gt excess
  pollution from waste disposal
• -disturbs delicate aquatic life
• no property rights- no blame

5
Proposed Policies

• Permits/ Licenses
• -permits specify exact amount
• -excess fishing--gtsevere sanctions
• -policed through frequent checks and/or certain
  areas of inspection

6
Policies continued.

• Zoning Laws
• - certain areas prohibited
• -positive impact on fish and environment

7
Policies continued.

• Effluent Charge
• -levied on each unit emitted
• -charge fee x amt.of pollutant