JONATHAN ADLER: LEARNING HOW TO FISH. “Overfishing is one of the world’s more serious environmental problems, but it does not have to be that way. In 1974, less than ten percent of the world’s fisheries were depleted or overexploited, according to the FAO. By 1998, over 30 percent of fisheries were overexploited and depleted. At the same time, the percentage of fisheries under or moderately exploited dropped from 40 percent to 15 percent. There is an urgent need for better fishery management. . . . If property-based fishery systems are the key to avoiding fishery collapse, why aren’t they more common? . . . Existing fishery management systems, which largely rely upon command-and-control regulations of various sorts, have been failing, but some stakeholders remain resistant to change. The ‘race to fish’ may be wasteful and inefficient (not to mention dangerous), but some fishermen like it that way.”