Four papers on the Icelandic system of ITQs in the fisheries (Individual Transferable Quotas), in particular the nature of the problem of overfishing, moral and economic considerations on the initial allocation of quotas and lessons for other nations from the Icelandic experience.

Finalist for the 2017 Washington State Book Award in General Nonfiction / History The plaque said this was the winter fishing hut of Thurídur Einarsdóttir, one of Iceland's greatest fishing captains, and that she lived from 1777 to 1863. "Wait," anthropologist and former seawoman Margaret Willson said. "She??" So began a quest. Were there more Icelandic seawomen? Most Icelanders said no, and, after all, in most parts of the world fishing is considered a male profession. What could she expect in Iceland? She found a surprise. This book is a glimpse into the lives of vibrant women who have braved the sea for centuries. Their accounts include the excitement, accidents, trials, and tribulations of fishing in Iceland from the historic times of small open rowboats to today's high-tech fisheries. Based on extensive historical and field research, Seawomen of Iceland allows the seawomen's voices to speak directly with strength, intelligence, and - above all - a knowledge of how to survive. This engaging ethnographic narrative will intrigue both general and academic readers interested in maritime culture, the anthropology of work, Nordic life, and gender studies.

In this monograph, Professor Gissurarson explains the Icelandic model of fisheries management, Individual Transferable Share Quotas (ITQs), implemented in 1979 to reverse the decline in Icelandic fish stocks. Access to Icelandic fisheries was traditionally open to all. In the 1960s and 1970s excessive catches of herring and then cod led to a decline in stocks of these important species in Iceland's waters. In response, Iceland's government imposed restrictions on the number of days trawlers could put to sea to catch certain species. This led to fishing Derbies, where fishermen competed to catch as many fish as possible in the limited time available. Inevitably, catches continued to exceed sustainable levels. Starting in 1979, the Icelandic government gradually introduced a system of individual transferable share quotas (ITQs), which essentially give boat owners the right to catch a specific proportion of the total allowable catch (TAC) of certain species. If a boat owner does not wish to use all his ITQ he can sell part of it to someone else. This encourages more efficient use of the capital invested in boats and equipment. Because ITQs entitle their owners to a specific share of the future stock of fish, they create incentives to ensure that stocks are sustainable. Since the introduction of ITQs, capital invested in Icelandic fisheries (boats and equipment) has been gradually falling and catches have fallen to sustainable levels, whilst the value of catches has risen. Because of the success of the ITQ system and the wealth it has created, there is now political pressure for an imposition of a resource rent tax. But such a tax would be contrary to the interests of effective conservation of fish stocks. A more appropriate next step would be to introduce a cost-recovery charge and, as a quid pro quo, give ITQ owners greater say in the administration and enforcement of the system. Owners of ITQ would have stronger incentives to ensure that catch levels were set at the economically optimal level.

The 2020 edition of The State of World Fisheries and Aquaculture has a particular focus on sustainability. This reflects a number of specific considerations. First, 2020 marks the twenty-fifth anniversary of the Code of Conduct for Responsible Fisheries (the Code). Second, several Sustainable Development Goal indicators mature in 2020. Third, FAO hosted the International Symposium on Fisheries Sustainability in late 2019, and fourth, 2020 sees the finalization of specific FAO guidelines on sustainable aquaculture growth, and on social sustainability along value chains. While Part 1 retains the format of previous editions, the structure of the rest of the publication has been revised. Part 2 opens with a special section marking the twenty fifth anniversary of the Code. It also focuses on issues coming to the fore, in particular, those related to Sustainable Development Goal 14 and its indicators for which FAO is the “custodian” agency. In addition, Part 2 covers various aspects of fisheries and aquaculture sustainability. The topics discussed range widely, from data and information systems to ocean pollution, product legality, user rights and climate change adaptation. Part 3 now forms the final part of the publication, covering projections and emerging issues such as new technologies and aquaculture biosecurity. It concludes by outlining steps towards a new vision for capture fisheries. The State of World Fisheries and Aquaculture aims to provide objective, reliable and up-to-date information to a wide audience – policymakers, managers, scientists, stakeholders and indeed everyone interested in the fisheries and aquaculture sector.

'The Sunken Billions: The Economic Justification for Fisheries Reform' shows the difference between the potential and actual net economic benefits from marine fisheries is about $50 billion per year, or some $2 trillion over the last three decades. If fish stocks were rebuilt, the current marine catch could be achieved with approximately half the current global fishing effort. This illustrates the massive overcapacity of the global fleet. The excess competition for the limited fish resources results in declining productivity, economic inefficiency, and depressed fisher incomes. The focus on the deteriorating biological health of world fisheries has tended to obscure their equally critical economic health. Achieving sustainable fisheries presents challenges not only of biology and ecology, but also of managing political and economic processes and replacing pernicious incentives with those that foster improved governance and responsible stewardship. Improved governance of marine fisheries could regain a substantial part of this annual economic loss and contribute to economic growth. Fisheries governance reform is a long-term process requiring political will and consensus vision, built through broad stakeholder dialogue. Reforms will require investment in good governance, including strengthening marine tenure systems and reducing illegal fishing and harmful subsidies. Realizing the potential economic benefits of fisheries means reducing fishing effort and capacity. To offset the associated social adjustment costs, successful reforms should provide for social safety nets and alternative economic opportunities for affected communities.

Wars have been fought over it, revolutions have been spurred by it, national diets have been based on it, economies have depended on it, and the settlement of North America was driven by it. Cod, it turns out, is the reason Europeans set sail across the Atlantic, and it is the only reason they could. What did the Vikings eat in icy Greenland and on the five expeditions to America recorded in the Icelandic sagas? Cod -- frozen and dried in the frosty air, then broken into pieces and eaten like hardtack. What was the staple of the medieval diet? Cod again, sold salted by the Basques, an enigmatic people with a mysterious, unlimited supply of cod. Cod is a charming tour of history with all its economic forces laid bare and a fish story embellished with great gastronomic detail. It is also a tragic tale of environmental failure, of depleted fishing stocks where once the cod's numbers were legendary. In this deceptively whimsical biography of a fish, Mark Kurlansky brings a thousand years of human civilization into captivating focus.

The genesis of this conference was on a quay of the port of Bergen in March 1985. Ragnar Amason suggested to Phil Neher a small, mid-Atlantic conference on recent developments in fishery management. In the event, more than twenty papers were scheduled and over one hundred and fifty conferees were registered. Logistical complications were sorted through for a summer 1988 conference in Iceland. The really innovative management programs were in the South Pacific; Aus tralia and New Zealand had introduced Individual Transferable Quotas (ITQs); and Iceland, Norway and Canada were also experimenting with quotas. It seemed to the program committee (Rognvaldur Hannesson and Geoffrey Waugh were soon on board) that these quotas had more or less characteristics of property rights. Property rights were also taking other forms in other places (time and area licenses, restrictive licensing of vessels and gear, traditional use rights). The idea of rights based fishing became the theme of the conference.

A topical and authoritative examination of the current crisis in the fishing industry, offering a political analysis of the reasons for the crisis and suggesting ways in which this might be overcome. The contributors include fishery officials and scientists as well as academics. The focus is mainly on the European fishing industry, with issues including political bargaining in the EU, the working of quota arrangements, the status of marine scientific knowledge and the industry's management structures in different countries.

This book offers a comprehensive account of the status and dynamics of people participating in the small-scale fisheries (SSF) of Europe. It covers the situation of SSF in 25 coastal countries, thereby providing a portrait of almost every coastal country on the continent and analyzing the recent evolution of the sector. Small-scale fisheries are argued to be extremely important in Europe, as they provide employment and welfare, while increasing food sovereignty and maintaining communities in coastal areas. The recent worldwide focus on SSF derives from their environmental sustainability, which distinguishes many of their activities from those of large-scale fisheries. This book analyses the diversity of SSF and shows how fishing communities have sometimes developed successful governing models, demonstrating social and economic resilience. While the book emphasizes the strengths of SSF and the synergies that occur with other marine sectors, it also presents cases of failure, in which collective action and policy have actually contributed to a weakening of the sector. In this context, the book shows how governmental policies toward SSF vary considerably from country to country, in a way that is not entirely consistent with European policies.