Re: Overfishing

[Jim Devine <jdevine03@xxxxxxxxx>]

On 6/21/07, Julio Huato <juliohuato@xxxxxxxxx> wrote:
> Jim Devine wrote:
>
> > BTW, overfishing is a  example of
> > market failure that's well known
> > even among neoclassicals (the
> > "tragedy of the commons"). Why
> > don't they respond?
>
> An example of market failure?

it's one that I heard about in grad school (concerning common-property
resources or common-pool resources). Has it been dropped from the
official list? They promised they'd call me before they did anything
like that. ;-)
--
Jim Devine / "The price one pays for pursuing any profession or
calling is an intimate knowledge of its ugly side." -- James Baldwin