Allowing resale of licenses seems to be a real problem with managed systems, we see the same thing with supply management quotas. The licenses and quota become commodities in themselves, sometimes worth more than the commodity or service they are intended to control.
That’s true... but there are upsides as well. Fisherman can use their licence as collateral for loans to get better boats and equipment, which makes the industry safer in general and they can get financing for other licences, to earn more money, etc, etc.
However, the gov’t still sees fishing licences as a privilege. Unfortunately, they kept creating more and more licences on the east coast over the decades. Yes, that spreads the wealth, but it also can spread it too thin.
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