Stephen A. Lawrence wrote:

I think that's a little severe.
There are truly _no_ more fish to catch?

Of course there are still some fish left to catch. However, world catches have declined precipitously and are still declining, world fish populations are declining . . .

Right. Plus there is another issue that does not occur with economics and the Laffer curve. When edible species are driven close to extinction, other species invade their niche. For example, in Japan in the Inland Sea, jellyfish have multiplied in huge numbers and they now eat much of the food that fish used to eat before the stocks were destroyed by overfishing. People do not generally eat jellyfish in Japan (although actually they taste pretty good), so nothing stops a jellyfish from taking over the whole ecosystem and killing off the last of the fish that people used to eat. They are not an invasive species; they have been there all along, but we have facilitated vast increases in their numbers.

Also, once a species enters precipitous decline, it is sometimes unrecoverable. In economics, you can always stop taxing people and the economy will spring back to life, but I think there is little chance the blue and right whales will recover, even though human depredations stopped in the mid-19th century.

In North America there were several large species of land animals 20,000 years ago that were driven into extinction by hunting within a thousand years after human beings showed up. In Easter Island and many other Pacific islands virtually all species of birds and mammals were destroyed, along with nearly all of the tree species, leaving only chickens and people. We now have the ability to do the same thing to entire oceans.

- Jed


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