Question

Fisheries in many parts of the world are endangered. What are the economic reasons for the threat to fisheries.

Answer 1

The main reason of fisheries got endangered is 'overfishing'. In many coastal countries, many fisheries are unregulated. The main economic factors that can describe this situation is 'common property resources' and 'free riding problem'. Many of those unregulated fisheries work as common property resources i.e. non excludable and rival in nature. Due to non excludability, it is practically not possible to exclude individual from getting benefit from these fisheries. While at the same time, this free riding on Fishing reduces the quantity of fishes available to individual, making fisheries endangered.