Key Concepts in Environmental Economics and Fisheries Management

A set of 50 flashcards focusing on key terms and concepts related to fisheries management, environmental economics, and sustainability.

newfound land Cod Fishery Case Study

A study highlighting the historical abundance of cod and its eventual collapse, emphasizing the importance of sustainable fishing practices.

1992→ collapse of cod stocks

why did this happen?

• transboundary situation, open access common property

• government subsidies pushed exploitation of resources (perverse subsidies)

• ignoring precautionary principle

• no adaptive management

fishing regulations in 1977

Canada declared EEZ set at 200 nautical mile limit, supposed to prevent over fishing

Global trends in the state of the world’s marine fish stocks

have been declining since 1974

Precautionary Principle

A policy approach where precautionary measures are taken to prevent environmental degradation, even in the face of scientific uncertainty.

In order to protect the environment, when there is a

reasonable probability of serious or irreversible damage,

lack of full scientific certainty regarding the extent or

possibility of risk should not be used as a reason for

postponing cost-effective measures to prevent

environmental degradation

Adaptive Management Principle

A systematic, iterative process of decision-making in the management of resources that incorporates feedback and learning from outcomes.

use of

a structured, rigorous, and iterative

process of decision making

regarding an issue that involves

regular monitoring of current

outcomes that can affect the

application of regulations and other

policy instruments to achieve a

desired goal

Identify Needs/Goals

& Define Problems

Identify Potential

Policy Instruments

Select and Develop

Policy Instruments

Implement Policy

Instrument

Measure, Evaluate

and Adjust Policy

Instruments

Perpetual Resources

Resources that replenish constantly and are not significantly impacted by human activity. ex. wind

Renewable Resources

Resources that restore or replenish themselves over a timescale that is meaningful to society , part of an active ecological system.

Non-Renewable Resources

Resources that exist in a fixed quantity and cannot be replenished within a human timeframe.

resources as sources

when we take from the environment and make use of them in consumption of production

resources as sinks

using them to store r process wast products. ex. trees are a carbon sink, septic system

critical load

highest rate at which a renewable resource can be used indefinitely as a SINK without degrading it.

Exclusive Economic Zone (EEZ)

A sea zone where a country has special rights regarding the exploration and use of marine resources.

Biodiversity Degradation

The decline in the variety of species in a particular habitat, often due to human activity.

Fish Landings

The amount of fish caught and brought ashore, typically measured in tons.

Transboundary Issues

Challenges that cross national borders, complicating the management of resources like fish stocks.

Ecological Footprint

A measure of the human demand on Earth's ecosystems and resources.

Pacific Halibut Case study

used regulatory approach and shortened the fishing season, eventually down to 2 days a year

introduced independent fishing quotas in 1991

now fishing season is 8 months

employed adaptive management→ changing quota year by year

independant fishing quotas

tradable permits

total quota is set each year and distributed through formula

can be sold permanently

integration of social, economic, and environmental concerns

key principle for sustainable development

reducing concerns over loss of fishing culture if permits are bought of by large corporations

Integrated management

limited quota ownership to 0.5% of total quota

residency required

limited vessel size to small trawlers

Sustainable Yield

The highest rate at which renewable resources can be used without affecting their long-term viability and degrading it.

Market Forces

The economic factors that allow prices to fluctuate based on supply and demand.

Tragedy of the Commons

1968 book

A concept illustrating how individuals acting in their own self-interest can ultimately degrade shared resources.

open access common property is doomed to tragedy becouse of nature to exploit them

collective action problem

Externalities

Costs or benefits of a transaction that affect third parties not directly involved in the transaction. not key decision makers

external costs

Negative Externalities

Costs suffered by a third party as a result of an economic transaction.

social costs

do not factor into decision for producing or consuming goods and services because neither producer or consumer experience cost

experienced by public as a whole

we end up with more of something being produced and consumed than is efficient because the externalities that are not considered by anyone in power

Positive Externalities

Benefits enjoyed by a third party as a result of an economic transaction.

social benefits

Conservation Easements

Legal agreements that permanently limit uses of the land to protect its conservation values.

Ecosystem Services

The benefits humans freely gain from the natural environment and properly functioning ecosystems.

Renewable Resource Degradation

The reduction in the capacity of renewable resources to perform as a source or sink is reduced, or when ecosystem functioning is degraded. ex foresting not only means less trees, but also less habitats

Ecological Systems

The complex network of interactions between living organisms and their environment.

Culture of Consumption

The societal norms and values that drive consumption patterns, impacting environmental sustainability.

Environmental Regulations

Laws and rules that aim to protect the environment and conserve natural resources.

Economic Growth

An increase in the production of goods and services in an economy over time.

why?

• more land, labour, capital are devoted to the production of goods

• productivity of these factors of production are increased

Sustainable Development Goals (SDGs)

A set of 17 global goals set by the United Nations in 2015 to address global challenges and ensure environmental sustainability.

Biodiversity Hotspots

Regions that are rich in biodiversity but threatened by human activities.

Homo Economicus

The concept of humans as rational and self-interested agents in economic theory.

Livelihood Diversification

The strategy employed by communities to enhance income and resilience through various economic activities.

Pollution Taxation

Tax levied on activities that produce environmentally harmful emissions.

Environmental Incentives

Economic strategies used to encourage environmentally friendly practices and behaviors.

Institutional Frameworks

The formal and informal rules that govern the behavior of individuals and organizations in society.

Sustainability Reporting

The practice of measuring and communicating the environmental and social impacts of an organization's activities.

Environmental Stewardship

The responsible management of resources to protect the environment for future generations.

system

made up of components and relationships (interdependencies between them) 

has specific goals, purposes or outputs

ex. respiritory electrical, global trade, corporation

exist at many scales

social system

systems where humans (actors) are the primary components

economic system

social system of production, allocation, and distribution, and consumption of goods and services within a society

history of economic growth

• hunter gatherer societies

• first agricultural revolution

• modern period

• 20th century

hunter gatherers

• used stone tools

• social groups < 50 people

• simple social systems

• production and consumption low

technology

knowledge and processes that can be applied to expand human capabilities

First agricultural revolution

• 9000 BC

• human settlements form and domestication of plants and animals begin- no more moving around

• individual property rights, institutions form

• areas become attached to people

• amount of food increases (agricultural surplus)

institutions

structures and mechanisms of social order and cooperation governing world behavior

rules of the game

norms (informal institutions)

Property rights

ownership of land , who decides how it is used

Early modern era

transition from medieval social systems to early modern social systems

reducing influence of catholic church

increase merchant capitalism and global interaction

rise of nation states

rise of scientific method and liberalism (promoting individual rights democracy and free enterprise)

late modern era

The 2nd Agricultural

Revolution

• The Industrial Revolution

• Health Improvements and

Population Rise

• The Rise of Capitalism (and

related institutions)

• Government Led

Modernization (Public Health,

The New Deal and Fordism,

Post War Investments)

2nd agricultural revolution

mid 17-19 century

• common lands declared private property

  • increasing incentive to improve land productivity (profits to be made)

• innovative farming practices being developed

• freeing up other labour for other forms of work

industrial revolution

• tech changes increase productivity and globalization

• peasants migrated tot he city for cheap labour

• beginnings of a fossil fuel driven economy

• accelerated by major institutional changes

  • major institutional changes

    (enclosure acts, new banking

    system, democratic gov’t, rise of

    capitalism, etc.)

Adam smith and wealth of nations

• questioned who should direct the economy, control scarce goods, and what results in greatest common good

• free markets→ fostering harmony and peace

• freedom to choose

• market forces

• laissez faire ( let it be)

• invisible hand→ impersonal operation of prices

Free market thoery

• decision making power is decentralized and in the hands of individual members of society

• prices are the result of the demand for goods and services and the availability of those goods and services

• people are rational and act in self interest

• market forces result in the most efficient use of resources

capitalism

• free market

• no country has an entirely capitalist system but most have substantial portions of their economy as capitalist

• adoption of capitalism creates incentive structures that reward increased production

Growth in 20th century

• most countries opened to capitalism

• managed in an effort to avoid market crashes

• modernization efforts occur

• resulted in:

  • dramatic rise in population

  • rise in GDP (total values of goods and services sold)

American Progress (1872) by John Gast (Manifest Destiny)

Symbolizes Manifest Destiny—the belief that U.S. westward expansion was inevitable and divinely ordained. The glowing female figure (Columbia) brings light, technology, education, and railroads westward, while Native Americans, bison, and wilderness are pushed into the darkness, representing displacement and the triumph of “civilization.”

The painting glorifies colonization and Manifest Destiny while ignoring violence, displacement, and broken treaties. It portrays Native Americans and wildlife as obstacles to “civilization,” reflecting racist and ethnocentric views. It erases Indigenous cultures, overlooks environmental destruction, and promotes the myth that U.S. expansion was inevitable and divinely ordained.

Henry David Thoreau – 1854 ‘Walden’

A key Transcendentalist work that emphasizes simplicity, self-reliance, and harmony with nature. Thoreau critiques materialism and industrial society, arguing true wealth is found in freedom and spiritual growth. The book became foundational for environmentalism and influenced ideas of individualism and nonconformity in American thought.

George Perkins Marsh

warned of the dangers of imprudence and the necessity of caution

ideas became foundation for conservation movement and modern global economy

humans can affect nature and climate

examples of economic degredation

• passenger pidgin

• extermination of the American bison

John Muir

naturalist and writer who was instrumental in the founding of many national parks and who co founded Sierra club

factory accident led to him wanting to see the world

walked from indiana to florida

became guide in Yosemite

wanted to connect others to nature

wrote a book

rosevelt asked john to join him, turned yosemite to bnational park

Republican President Theodore Roosevelt

(fan of John Muir) created five new national parks, 51 federal bird

sanctuaries, four national game refuges, 18 national monuments, and more than 230 million acres' worth

of public land.

conservation movement

aldo leopold

protector of land in the 1930s, shooting wolves that were killing livestock

the land ethic

• changes the role of homosapiens from conqueror of land community to plain member and citizen of it

• a thing is right when it tends to preserve the integrity, stability, and beauty of the biotic community. it is wrong otherwise

rachel carson

wrote book on pesticides called silent spring

exposed hazards of ddt and questioned humanity’s faith in technological progress

set the stage for modern environmental movement

the desolate year:questioning if pesticides were really all that good: study what would happen in ddt was taken away for a year

rise of environmentalism 1970

Why?

• The influence of all of the historical leaders we have discussed and many

others that we didn’t discuss

• A number of prominent environmental disasters/issues in the 1960s and 70s

(Cuyahoga River Fire, Santa Barbara oil spill, LA Smog, etc)

• First Earth Day Initiated

• OPEC Oil Embargo

• Images From Space

• Protest Music/Art arising from counter culture ‘hippy’ movement

• Environmental Protection Agency formed

• New NGOs such as Greenpeace form

OPEC Oil Crisis (1970s)

Two major shocks when OPEC restricted oil supply. In 1973–74, Arab states cut exports during the Yom Kippur War, causing prices to quadruple and fuel shortages. In 1979, the Iranian Revolution disrupted oil production, doubling prices again. These crises revealed global dependence on Middle Eastern oil, led to inflation and recession, and spurred energy conservation, fuel efficiency, and strategic reserves.

rise of environmental regulations

• 1972 stockholm declaration→26 broad ranging principles about protecting the planet

1984 WCED/ bruntand commission

sought to figure out how to grow out of poverty while avoiding environmental ruin?

• sustainable development is development that meets the needs of the present without compromising the ability for future generations to meet their own needs

coupling of growth and environmental degradation and completion

widely agreed upon, cant have one with out the other

Co2 emissions up

habitat loss and species depletion

increase in microplastics

forest fires, coral reefs

climate change

Steady environmental degradation theory

slowly happens overtime, no one notices one thread, damage over decades

examples:

• Aral sea→ diverting water for irrigation 80% dried up

• air pollution

• smoke in Edmonton increasing every summer

collapse theories

carrying capacity of environment collapses

Most collapse theories are based on occurrences such as the following:

• Environmental collapse due to over consuming a renewable resource (such as fish)

• Economic collapse due to the rapid decline of important ecosystem

functions (loss of bee populations affecting crops, runaway climate change due to positive feedback loops, etc).

• Economic collapse due to the rapid decline of a non-renewable resource (such as running out of oil or a key mineral)

• Conflict and societal breakdown due to the impacts of the above factors

• The key element of collapse theories is that some point in time terrible consequences occur without a great deal of prior warning.

thomas malthus

essay on the principle of population

• minister who was appalled at morals of humanity (unable to control urges), concerned about over population

• populations growing larger than food supply and will eventually collapse because of overshooting carrying capacity

ecological carrying capacity

the natural limit of a population set by resources in a particular environment

Malthusian Growth

Theory by Thomas Malthus that population grows exponentially while food supply grows linearly. This imbalance leads to crises—such as famine, disease, and poverty—that act as natural checks on population. Significant for early debates on resources, sustainability, and limits to growth, though later challenged by technological advances in agriculture.

paul ehlrich the populaiton bomb

Warned that rapid population growth would outpace food supply, causing famine and collapse. Linked overpopulation to environmental damage and urged birth control and family planning. Though many predictions (famines in the 1970s) did not occur due to the Green Revolution, the book was significant for raising awareness of population, sustainability, and environmental limits.

1972 club of rome: limits to growth

Used MIT simulations to show how population, industry, pollution, food, and resources interact. Predicted collapse within 100 years if growth continued unchecked, arguing the planet has finite limits. Influential in the environmental movement, it highlighted sustainability and resource scarcity, though critics said it was too pessimistic and underestimated human innovation.

collapse based mostly on source issues where shortages of fossil fuels and fertilizer cause a food supply collapse

if we went business as usual, we would collapse within 100 years

by stabilizing population and industrial output, it is possible to reach a point of ecological stability

promoting degrowth

1. Accept the Limits to Growth and

integrate the finite ecological limits of

our planet into governing the economy.

2. Refocus the economy in wealthy

nations towards material sufficiency

and non-consumptive human well

being (and away from an obsession

with GROWTH).

3. Tackle systematic economic inequality

to address issues of poverty through

processes of redistribution as opposed

to growth

redirect production and consumption to become more equitasble

wealthy: consume less

for the common good, herman e daly. john B cobb jr

decoupling

breaking the link between economic growth and environmental degradation, allowing growth to continue without environmental harm

making growth efficient while environmental conditions improve

green revolution

1960’s concerns over population were based upon comparisons of current

food supply and production trends

Starting in the 1940s, innovations in hybridized seeds, synthetic fertilizers,

pesticides, and distribution systems resulted in a massive increase in food

production. (Sometimes called the 3rd agricultural revolution)

montreal protocol

fighting climate change by phasing out the use of CFC in fridges

International treaty to protect the ozone layer by phasing out ozone-depleting substances (like CFCs). Signed by 197 countries—the first UN treaty with universal ratification. It has led to the healing of the ozone layer and is viewed as a model of successful global environmental cooperation, with added benefits for climate change.

julian simon

humans as the ultimate resource

Argued that human ingenuity is the ultimate resource, not raw materials. Rejected Malthusian pessimism, claiming population growth fuels innovation. Famously won the Ehrlich–Simon wager (1980–1990) when metal prices fell instead of rising. Significant for promoting an optimistic, free-market view of resources and sustainability.

key lesson for growth optimists

“In the past, when humanity has faced

challenges, human innovation and

creativity has risen to address the

challenges and society has continued to

progress.”

we are now able to get more for less impact ex. led light biulbs

skeptical of decoupling

• scale of required improvement is daunting

• carbon intensity ould have to be 130x lower than today by 2050

• falling 11% a year

planetary boundaries framework

Concept that humanity must live within Earth’s 9 planetary boundaries (e.g., climate change, biodiversity, freshwater, nitrogen cycles). Staying inside this safe operating space keeps Earth stable for human civilization, while crossing boundaries risks irreversible environmental collapse.

• Provides a scientific framework for sustainability.

• Highlights that development should stay within ecological limits.

• Used in policy, sustainability science, and climate debates to balance human needs with planetary health.

---

sustainable development as a middle ground

bruntland commisison: “Development that meets the needs of the

present without compromising the ability

of future generations to meet their own

needs

agrees that current trends are unsustainable

decoupling is possible, however growth reduciton will be required to reduce environmental degredation

The future is not ‘predetermined’ and both success and failure are

possible. Achieving Sustainable Development will take great

political will and effort and will involve a significant change from past

activities. Not achieving it will have serious repercussions on the

quality of life of future generations due to environmental degradation

(due to a collapse and/or ongoing degradation).

models

abstractions that help us understand and interpret reality

theory

system of ideas intended to explain phenomena( realworld things) based on a shared body of rinciples

ethical philosophy

effort to define how society should function in terms of what is accepted as right or wrong behavioru

utilitarianism

the view that the morally right action is the one that produces the greatest amount of happiness

we should do what brings the greatest amount of benefit to society

ulility=happiness and wellbeing

from 18th century greek

collective action problems (social dilemmas)

situations in which the rational self interested behavior of individual decision makers leads to sub-optimal outcomes in torms of total utility

Situations where individuals’ self-interested actions conflict with the collective interest.

types of negative externalities

present day costs

• direct costs

• opposrtunity costs

puture costs

• potential future consumption of non-renewables

• less opportunities to make use of degraded renewable resources

• health costs etc

prisoners dilemma- game theory

shows that people acting in their own self interest act very differently when they can communicate and defend their own interests

no communication= sub optimal outcome

mimics real world CAP

institutions

structures and mechanisms of social order and cooperation governing the behavior of a set of individuals

ruled of the game

instituted agreement

long standing agreement between people

components of institution

1. instruction→ what is allowed and preferred, can include conditions

2. incentive→ reward and punishment, shifting cost benefit analysis

formal institutions

rules, laws, contracts

punishments and rewards

ex. traffic light→ legal institution, why we follow it

Norms

informal institutions 

instrucitons and incentives influenced by groups to influence behaviors of group members

social punishment