Common Pool Resources
Before beginning this discussion, read Chapter 13 in your text and the article by Garrett Hardin (1968). Describe the problems caused by open access resources as discussed by Hardin. How does Hardin propose we address these concerns in a manner that will result in lasting conservation? As discussed in your text, open access fisheries pose a similar problem to the one addressed by Hardin. Of the possible solutions discussed in the text to obtain an efficient fish allocation (taxes, individual transferable quotas, subsidies and buybacks, the 200-mile limit), which do you believe will provide the most efficient and economically beneficial solution. Make sure to provide substantial details to explain your reasoning and utilize your text and at least one scholarly source to support your discussion.
