Sell all rights to the highest bidder and then distribute the funds to each country according to population. The ultimate guardian of any property right is the

Sell all rights to the highest bidder and then distribute the funds to each country according to population. The ultimate guardian of any property right is the owner. Just as government is unable to keep squatters out of foreclosed properties, so to it is impossible to keep looters out of the seas with active interested owners. I'm convinced that owners will come up with all sorts of ways to enforce their rights. It will be their money on the line, after all. And if the penalties for poaching are high enough, the incentives are going to be in favor of owners. The practical effect of this is fish will cost more than just the cost of picking it up out of the ocean. And that's exactly what needs to happen. The price needs to reflect the relative scarcity of these resources in order for people to change their habits. Property rights can accomplish what we need. Collective ownership has failed and its time to act accordingly.