The Depopulation of the North Atlantic Cod By: Antone Morreale

The North Atlantic Cod n Integral part of aquatic food web n Once gone, gone FOREVER

Market Failures n PUBLIC GOOD -no sole owner, common- property resource -fisheries extract as much as possible -fisheries extract as much as possible -no property rights--> fishermen exploitation of cod -no property rights--> fishermen exploitation of cod

Market Failures cont…. n EXTERNALITIES-OVERUSE OF OCEAN desired coastal area--> increased development desired coastal area--> increased development -decrease in important spawning grounds -decrease in important spawning grounds population and industrial growth--> excess pollution from waste disposal population and industrial growth--> excess pollution from waste disposal -disturbs delicate aquatic life -disturbs delicate aquatic life no property rights- no blame no property rights- no blame

Proposed Policies n Permits/ Licenses -permits specify exact amount -excess fishing-->severe sanctions -policed through frequent checks and/or certain areas of inspection

Policies continued…. n Zoning Laws - certain areas prohibited -positive impact on fish and environment

Policies continued…. n Effluent Charge -levied on each unit emitted -charge= fee x amt.of pollutant