Artificial Reefs, Real Fish

Ronald Bailey | March 14, 2001

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Another example of highly successful privatization of marine resources is in the state of Washington, where by a quirk in the law, oyster beds are owned by the oystermen. "They have invested a lot in ensuring that the oyster population is healthy, that the water quality is healthy, and that the oyster industry is healthy," says De Alessi. There is no chicken shortage, no beef shortage, nor even a Persian cat shortage, largely because these resources are privately owned and therefore people have incentives to act as stewards to protect them.

"We have leases where people can lease ground to grow oysters," notes The Reefmaker's David Walter. "Why can't they lease areas where people could build reefs and harvest fish?" Why not indeed?

The seas are overfished because of the Tragedy of the Commons. We've learned that creation of artificial reefs and structures over featureless expanses of the sea floor increases fisheries production. But they too will be overfished unless we take the next step of creating some form of private ownership of these resources. To be sure, reef manufacturers such as David Walter--and fishermen--will gain from privatization. But ultimately everyone will gain if marine ecosystems are made healthier and fish populations thrive.