Ludwig ’ s Ratchet and the Collapse of New England Groundfish Stocks

@inproceedings{Hennessey2002LudwigS,
  title={Ludwig ’ s Ratchet and the Collapse of New England Groundfish Stocks},
  author={Tim Hennessey},
  year={2002}
}
The stocks of principal groundfish species off New England have collapsed, creating economic hardship and dislocation in fishing communities from Rhode Island to Maine. In this article we analyze the causes of this collapse using the “ratchet effect” described by Ludwig, Hilborn, and Walters (1993) as a framework. According to Ludwig, Hilborn, and Walters, powerful economic and political interests drive fisheries to overcapitalize and overexploit despite scientific evidence that stocks are… CONTINUE READING

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