PUTNAM: Regulations hurt more than help

noaa destroying fishermenSeveral presidential candidates have spent a significant amount of time highlighting that none of the those “responsible” for the 2008 financial crisis went to jail.  Without passing judgement on the argument that someone should be punished for the mismanagement that may have contributed to the economic downturn, it does raise an interesting question. In a heavily regulated industry, what culpability do the regulators have when things go horribly wrong? The regulators, of course, exist to protect the public, consumers and often the environment. The National Oceanic and Atmospheric Administration’s (NOAA) National Marines Fisheries Service, which has been rebranded as “NOAA Fisheries” after getting a well-deserved reputation of destroying fishing communities, is responsible for the management and regulation of New England’s ground fish fisheries. Taking a look at the history of how the fisheries have been managed, the results have been poor. Read the rest here 13:51

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