14 Sep '12, 9am

No Catch Investment | the new economics foundation via @theneweconomics

Fish stocks are an essential public resource facing potentially irreversible damage. Years of overexploitation have left nearly half of all North East Atlantic stocks over-fished, significantly worse than the global average. Tens of thousands of jobs and millions of tonnes of food supplies have already been lost to overfishing, with more at risk if the damage caused by over-fishing becomes terminal – already, the fishing industry has become dependent on subsidies to survive. Halting overfishing would allow fish stocks to recover. But this would need to overcome short-term costs to fishing revenues and unemployment. In this paper, we assess these short-term costs against the potential benefits of a restored and sustainable fishing industry. We find the short-term costs, while concentrated in the fishing industry, can be overcome affordably with a relatively small investment...

Full article: http://www.neweconomics.org/nocatchinvestment

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