ECONOMIC PERSPECTIVES ON NEW ENGLAND FISHERIES MANAGEMENT

Contemporary conventional wisdom holds that fishery management in the US has not conserved many of our fishery resources. Many observers cite the New England groundfish fishery as a clear case of mismanagement that has resulted in over exploitation. We present evidence that management institutions have failed to improve economic performance and conserve resources in New England fisheries. In our view, the prospects for successful management are not good unless some fundamental changes are made. We identify two major obstacles to effective conservation and management and conclude with recommendations for reforming our fishery management institutions.