Catch Quotas
Systems that use individual transferable quotas (ITQ), also called individual fishing quota limit the total catch and allocate shares of that quota among the fishers who work that fishery. Fishers can buy/sell/trade shares as they choose.
A large scale study in 2008 provided strong evidence that ITQ's can help to prevent fishery collapse and even restore fisheries that appear to be in decline.
Read more about this topic: Fisheries Management
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“We are the prisoners of ideas. They catch us up for moments into their heaven, and so fully engage us, that we take no thought for the morrow, gaze like children, without an effort to make them our own.”
—Ralph Waldo Emerson (1803–1882)