Examining the screenplay: public spending and private earning in American fisheries

Many fisheries scientists currently advocate "rationalization" and "rights-based management," which essentially amount to complete privatization. The relevant economic theory is not new. I discuss how American cultural values regarding the ownership of fishery resources have prevented such polices from being implemented during previous eras. I also call attention to the discrepancy between public subsidy of American fisheries and the private profits earned from them and suggest that this issue be addressed as a component of any further privatization schemes.