I agree with what you said, but I am still interested in the concept.
Lets say hypothetically there is X number of fish in a lake, and they reproduce at a rate of Y. The problem is that they are being removed and consumed at a rate that exceeds their ability to procreate. Is it unreasonable to limit the number of fish being removed in order to keep the resouce availible? What if this is just a private agreement among fishermen?
Hi Rem.
The trouble with asking the question, “Should a limit be placed on the number of fish removed from the lake?”, is that it’s not necessarily straight forward who’s purpose this serves. Technically, until property rights have been established by some objective authority, no one owns the lake, and no one has a legitimate interest in its fish, so no one’s purpose can be considered.
The solution to the “Tragedy of the Commons” is to establish ownership. For as long as no valid claim to ownership can be made, the lake must be said to be unowned. And it is not right to prevent someone from making a value out of the unowned.
Of course, the question of how to establish ownership can be complicated. But in the specific case of the lake with fish, I would suggest that a corporation be established by all parties who can demonstrate that they are in a position to exploit it (i.e. all the local fishermen). Once the corporation is established, a monetary value could be placed on its shares, a charter can be written up, and everyone with an interest in the corporation can harvest a measurable value from the lake.
And I should think that a reasonable fisherman would not be averse to joining such a corporation because it would tend to perpetuate the fish that are desired by fishermen.
Were I a judge of the case, I’d try to find a set of criteria for determining who has a current, viable claim to fishing. It would have to be fishermen who are already established, to avoid the problem of new-comers. And I might look at their relative harvesting capabilities. Those who are currently able to harvest more than others might be considered for greater shares of the company.
Another way to approach the problem would be to solicit bids for the property and to let everyone have a share proportional to the size of their bid. (And all bids must be paid to the state for payment of its arbitration services. Incidentally, this is one way to voluntarily fund the government.)
Rachel