Recently, thousands of pounds of Dungeness crabs were dumped into the San Francisco bay as fishermen were unable to find processors to handle the glut. Unfortunately, this wasteful use of our natural resources is all too common, as our oceans are overharvested due to a lack of private incentives. But now there’s a new free-market solution called individual fishing quotas, or IFQ’s which are being looked at by the White House Ocean Policy Committee. IFQ’s would give fisherman the right to catch certain quotas, established scientifically, and thus remove the problem of overharvesting. Already a success in Alaska, many hope the White House will catch on to this novel fishing policy over the next several months.

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