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ABSTRACT. Recreational fisheries are an important albeit underappreciated part of our economy, both on the production and consumption side. In this paper we attempt to make the case that the present sovietization of this resource is not effective, and that privatization will bring great benefits to this economic sector. The purpose of this paper is to make the case for the privatization of recreational fisheries. Design/methodology/approach is based on historical evidence of privatization and the logic of private enterprise and private property rights. We find that the experience of fisheries, coupled with the tragedy of the commons, indicates that privatization of this amenity would be appropriate. There has been much work done on ITQs, which is a quasi privatization scheme, but our proposal is much more radical, and original. pp. 18–28
JEL codes: Q2

Keywords: fisheries; privatize; tragedy of the commons

How to cite: Olausen, Michael, and Walter E. Block (2014), “Privatizing Recreational Fisheries,” Economics, Management, and Financial Markets 9(4): 18–28.

MICHAEL OLAUSEN
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Joseph A. Butt, S.J. College of Business,
Loyola University New Orleans
WALTER E. BLOCK
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Joseph A. Butt, S.J. College of Business,
Loyola University New Orleans

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