Environmental Economics — Governing the Global Fisheries Commons

Hayek Program Podcast

Welcome back to the Environmental Economics series, hosted by Jordan Lofthouse. On this episode, Jordan interviews Pablo Paniagua Prieto and Veeshan Rayamajhee on their co-authored work, "Governing the Global Fisheries Commons." On this episode and in their article, they address the challenges of overfishing and the depletion of global fisheries. They critique one-size-fits-all solutions, advocating for an approach that recognizes overfishing as a complex set of interconnected problems across various jurisdictions. Drawing from Elinor Ostrom's insights, they propose combining market-based strategies, such as individual transferable quotas, with government interventions like removing harmful subsidies, and highlight the importance of local knowledge, community participation, and multi-layered solutions to effectively govern the global fisheries commons.

Pablo Paniagua Prieto is an economist and engineer from Politecnico di Milano and Professor of Political Economy at Universidad del Desarrollo in Santiago, Chile. Pablo is an alum of the Mercatus Adam Smith Fellowship.

Veeshan Rayamajhee is an Assistant Professor of Economics in the Department of Agribusiness and Applied Economics at North Dakota State University and a faculty fellow at the Center for the Study of Public Choice and Private Enterprise. Veeshan is an alum of the Mercatus Adam Smith Fellowship.

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