William R. Miller: Why don’t we restore commercial fishing in Erie?

There are two kinds of jobs, those that “create wealth” by bringing money into the region from outside the region and those jobs that “circulate wealth” within the region. Fish we take from the lake, crops that we grow, minerals that we extract from the ground, products that we manufacture, retirees we convince to live here, services provided to outside individuals and organizations, and tourists who we attract, all create wealth for the region. Each wealth-creation job typically supports about three wealth-circulating job in the region. We’ll focus here on one potential source for wealth-creating jobs. In 1890, Erie was the largest, in tonnage, freshwater fishing port in the entire world. Today, my understanding is that Erie is down to one commercial fisherman and the Canadian Great Lakes fishing industry is now about a $1 billion industry. What happened?  >click to read< 15:45

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