Despite protection by the federal government, coral reef coverage in the Florida Keys has declined dramatically in recent years. Reed Watson of the Property and Environment Resource Center believes free-market intervention may help address this problem and here explains why: “While government regulations have failed, scientists have developed active coral restoration techniques, such as growing corals in nurseries and transplanting them into the wild. This has proven highly effective, but it is expensive. Creating exclusive restoration zones where nonprofit and for-profit organizations could invest in active reef restoration and collect user fees from visitors would harness market-based incentive to restore Florida’s coral reefs.”
October 7, 2013 by David Rothbard,
David Rothbard is co-founder and President of CFACT.