Tag Archives: Individual Transferable Quota System (ITQ).

Time to challenge the fisheries oligarchs

On the fish-catching side of the equation, the federal government distributes fish quotas under the so-called Individual Transferable Quota System (ITQ). It means that a licence holder is issued their own quota every season, the theory being that this avoids “The Tragedy of the Commons” — another euphemism of economists for overfishing. In fact, if the quotas are too high it is still overfishing by another name. Even economists and governments can not beat biological reality although they are experts at explaining away their mistakes. Read the rest here 15:30