Many ocean fisheries are subject to a fundamental economic problem generally referred to as the common property problem. The common property problem manifests itself as excessive fishing fleets and fishing effort, depressed fish stocks and little or no profitability of the fishing activity,...

The International Council for the Exploration of the Sea (ICES) is the central scientific network within the massive set of bureaucracies that is responsible for Europe's Common Fisheries Policy (CFP). While spending the past 25 years failing to sustain Europe's fish stocks, this management...