How Property Rights and Markets Are Overcoming the Marine Tragedy of the Commons

A discussion on the "Taboo Trades" podcast.

Last week, I was a guest on Kim Krawiec's "Taboo Trades" podcast--"a podcast about things we are not supposed to sell, but do anyway"--to discuss how tradeable rights have helped advance marine conservation. The discussion drew upon my (co-authored) article "Learning How to Fish," which had been previously published in the UCLA Journal of Environmental Law and Policy.

As we discussed, fishery conservation is a particularly good example of how property rights and markets can advance environmental goals. This is not merely a matter or economic theory, as we now have substantial empirical evidence of how the use of such tools can work.

One thing that is particularly neat about the "Taboo Trades" podcast is that it is put together by Professor Krawiec's class on "Taboo Trades" at the University of Virginia Law School. While Prof. Krawiec invites the guests, her students do most all of the questioning, which makes for a neat experience as the guest.

For those interested, the episode is available for a listen here.

Comments

[bernard11]

Interesting points, Jonathan. I read your article, but did not listen to the podcast - tl;dl.

Anyway, this approach to these problems has been well-known for a long time. Sadly, politics of various sorts has made it difficult to implement. Maybe that's changing.

[Sarcastr0]

Artificial markets are a phenomenal engine for efficiency - the Cassini Probe is what I always point to.

Dunno if I'd call that 'property rights' but it is absolutely a policy avenue to include as a problem solver. When your problem is efficient distribution of some resource, that is.