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Essay / Research Paper Abstract
A 21 page overview of regulation as it applies not just to the ecological stability of a fishery but as it applies to the economics of that fishery. This paper provides current data on the world's fisheries and compares the current state affairs to the economic guidance contained in the 1776 seminal text "Wealth of Nations" by author Adam Smith. Bibliography lists 11 sources.
Page Count:
21 pages (~225 words per page)
File: AM2_PPenvFishEcon.rtf
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Unformatted sample text from the term paper:
International and transboundary waters pose a
number of problems from an economic perspective and thus from a fisheries management perspective. There are only so many fish in the sea, so to speak, and the harvest
of those fish has become a highly controversial issue. Consequently, numerous organizations have been involved in formulating management plans to prevent water quality deterioration, overharvest, and the illegal piracy
of fish. All of these factors enter into the supply and demand characteristics that can be applied to practically any business endeavor. The difference is that supply and
demand in one part of the world in terms of fish resources is often influenced by supply and demand in many other parts of the world. Although significant effort
has been expended trying, effectively regulating this situation is almost an impossibility. As Adam Smith point out in his seminal text "Wealth of Nations", a work published in the
same year as the American Declaration of Independence, although regulators might think that they can control the various components of our diverse world society as though they were controlling the
pieces on a chessboard, every individual in that great game of chess has the innate tendency to better their own condition and that tendency is so powerful that it is:
"not only capable of carrying on the society to wealth and prosperity, but of surmounting a hundred impertinent obstructions with which the
folly of human laws too often encumbers its operations" (Smith IV.5.82) Human law in regard
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