In a recent study of more than 11,000 fisheries worldwide, scientists at the University of California have discovered that over-fishing and destruction of natural habitats are the main causes of the dwindling fish supply worldwide. In some areas, predictions look bleak – types of fish could disappear in a couple of years. Out of all the fisheries visited by Christopher Costello from the U.C. Santa Barbara and his team, less than 120 had employed measures to prevent such a catastrophe.

 

Researchers said that fishermen and companies in the business have no immediate interest in preserving livestock and natural habitats, as that would mean a loss in short-term profit. But Costello, who is a resource economist, says that it would be much more effective for the entire industry if long-term plans were developed to counteract the present situation.

 

For instance, he talks about introducing individual fishing quotas (IFQs) for each fisherman. This IFQ should come out of the overall production. Its main effect is that it would virtually make fishermen more aware of the dangers over-production implies on the survival of most, if not all fish species.

 

In some places in the world, like New Zealand and Alaska, IFQs have been in place for decades and years, respectively. Fishermen in those areas are less likely to risk their lives in dangerous fishing trips during bad weather, as it happens in other places, where governments have introduced maximum fishing quotas for both companies and individuals. This translates into hundred of boats going off-shores for a couple of days a year, during mating seasons, and then returning to flood the market places with the same product. As it happens, this is very bad to economies, as high supply means low demand and, implicitly, low prices. Furthermore, people die in terrible storms on oceans just to be able to fish one or two days per year.

 

By introducing IFQs, more open-minded authorities intend to make both fishing companies and individuals aware of the fact that it's much more productive and, most of all, safe to fish for nine months instead of two days. The benefits to economy are substantial, as proved in Alaska, where such policies drove profits up by 400 percent in one year. Constant low supply generates high demand and high prices. Plus, people are able to buy the fish they like almost all year around, not just on one week.