THE BLUE ECONOMY

Fishing Public Resources For Public Benefit

Rupert Crilly, Researcher, Natural Economies, nef (the new economics foundation)

PAPER SUMMARY

The marine world has been a cornerstone of human economic activity for centuries. Once the realm of inexhaustible abundance, the Blue Economy has become one of scarcity and unsustainable human impacts. Fisheries, for example, are plagued by endemic overfishing, discarding, and an increasingly inefficient and subsidy-dependent fishing industry. Marine resources, from fish to broader ecosystem services, should be used for public benefit. Using profits or financial returns alone rarely serve as complete indicators of an activity’s public value, and can in some cases be entirely misleading. Alternative uses of marine resources must be independently weighed against each other based on their economic, social and environmental impacts, particularly with an emphasis on sustainability. To make them comparable, it can be helpful to monetise these impacts using an extended cost-benefit analysis framework. We illustrate this with a case study of cod fishing in the North Sea, where the principles are equally applicable not just in global fisheries but all marine resources. With a complete picture of their associated impacts, economic activities and their public resource requirements can then be planned to ensure the most beneficial ones are prioritised with access to marine resources.

Download the full challenge paper here

  • Anonymous

    Considering the oceans’ important impact on climate and weather patterns, and mankind’s negative impact on oceans, I would argue that the sooner mankind is out of the oceans altogether the better. No fishing, no fossil-fuel powered vessels, no contact. That would include indirect contact too, meaning no agricultural chemical run-off, no rubbish via sewers, no point-source industrial pollutants into rivers, etc. All this would mean changing entire economies, entire food systems, entire ways of life – and that’s exactly the whole point.

    I look forward to a paper for download on this page.

Disclaimer

The views expressed by bloggers express their views and opinions. The articles posted have been reviewed for content. This blog does not necessarily reflect the view or positions of nef.

About Us

Stakeholder Forum for a Sustainable Future, nef (the New Economics Foundation) and New Economics Institute are working in partnership to catalyse the Global Transition 2012 initiative.

New Economics Institute Stakeholder Forum NEF

Our Sponsors

The first and second Global Transition Dialogues have been made possible by the generous support of the VELUX Foundations; and the broader initiative activities are made possible by the generous support of the Ford Foundation

Velux Ford Foundation