Market Correction

Pearl of Wisdom
19 December 2007

Editor, The Baltimore Sun

Dear Editor:

Kenneth Lewis argues that the only way to sustain oyster populations in the Chesapeake Bay is to impose "a moratorium on the taking of oysters" (Letters, December 19).

Mr. Lewis is mistaken. While disease and pollutants affect oysters widely, economist Michael De Alessi found that in places where oyster beds are private, such as Washington state, oyster populations are thriving. Oyster populations are imperiled most seriously in places, such as Maryland, that reject privatization of oyster beds.*

The best step that legislators in Annapolis can take to save oysters is to allow fishermen to establish private property rights over beds.

Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University

* Michael De Alessi, "Fishing for Solutions," in Ronald Bailey, ed., Earth Report 2000. (New York: McGraw-Hill, 2000).
Posted by Don Boudreaux on Wednesday May 21, 2008 at 3:39pm

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