Like a lot of the language of the 20th and 21st century, the term "Individual Transferable Quotas" does not bring beauty, elegance or joy to mind. Likely, it does not even adequately identify what it is referring to.

An individual transferable quota is a system used by some fisheries to manage how many fish are caught in a given year and avoid de-populating the region of fish. Only so many are alloted per commercial fishing boat or fleet, and they can be traded within or between fleets. But exceeding the limit is strictly forbidden.

Research conducted by the University of California at Santa Barbara indicated this type of fisheries management, at least in large, commercial settings, provided an incentive for fisher-ladies and gents to care for the fish population, avoid over-fishing and consider the next season's catch.

Researchers even documented one instance in which crew lobbied to decrease the catch this year in order to be able to fish even more fish the following year when population numbers were up.

The research also showed that this ITQ system, highly regarded in general, has helped some fish species recover.

This system doesn't favor the small business fisherman (or lady) and it doesn't seem to make much sense in developing nations where the approach to harvesting fish is much different than, say, off the coast of Maine.

Two more little worries about this system, as great as it is: If the quota is set too high, the fish population could still plummet; and I believe this system's name and abbreviation may confuse some fish and some fisher-ladies and gents with the multitude of other three-letter abbreviations and quota systems.


[via BBC]