Wednesday, January 30, 2013

Cod fishery restrictions

Nice article in today's WSJ (available on Blackboard for class members) about how to optimize fish stocks: restrictions on cod fishing have helped but, some say, not enough: restrictions may need to tighten, putting further pressure on New England and Eastern Canadian economies. (We'll talk more about fishing in a few months.)

Update: looks like many of the restrictions have passed. In response the NYT made a nice little video right here that makes good economic points about elasticities, opportunity costs, and other relevant concepts. It's short; take a look!

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