Society is becoming increasingly aware of the strain we are putting on the world’s resources. Sometimes private individuals or groups are left to take up the cause of sustainability. However, in many cases governments have intervened in an effort to conserve resources for future generations. The fishing industry is one such of these examples. The government has begun regulating markets in the US and effectively creating catch quotas for commercial fisherman.
This is a multipart assignment in which you will examine and evaluate the fishing market, outlining the merits and weaknesses of regulations as well as suggest an alternative, from an economic point of view. As you progress through the course you will incorporate more and more economic language into your analysis, in the end forming a complete economic discussion.Consider catch shares and the negative aspects of this government intervention. In addition to improving your paper based on the feedback you received, add to your previous discussion of catch shares using what you have learned about how monopolists make pricing and output decisions and how and why market power is a problem. Include any other negative aspects of catch shares that you find through your own research.
Now put yourself in the role of a social advocate. Noting the problems you presented above, what solutions do you have to help protect society? Offer an alternative solution that addresses the issues you noted in part I and avoids the problems you noted in the first half of part II. Be creative, you are not limited to possible government interventions but should also consider potential interventions from other groups in society.
Note: This is the final part of the writing assignment. You must submit a completed paper with title page, introduction, body, conclusion, a graph, and references page. The paper should breakdown the fishing market and problems within it, evaluate the current solution and it’s limitations, and propose an original contribution/potential solution.
This is a graded assignment.
The body of the text must be at least 6, no more than 7, full pages: a revision of the first 4 pages already submitted (addressing all comments you received on the second draft as well as integrating the second draft with this one) PLUS an additional 2 pages. Your document must follow formatting rules (font 12, Times New Roman, doubled- spaced 1 margins, etc),
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