Bring on the Whale Markets

Prohibition frequently or almost always works in the opposite direction as what populist politics intends them to be. 

The policy failure from the longstanding ban on whale hunting has prompted proposals to commercialize ‘whaling’ as a means of conservation.

From Economist Tim Taylor:

The International Whaling Commission imposed a moratorium on commercial whaling in 1986, which is still in effect. However, the moratorium has effectively allowed "scientific" whaling (mainly Japan),  "subsistence" whaling (various aboriginal groups), and limited commercial whaling (mainly by Norway and Iceland).  The total number of whales caught has doubled since the 1990s to about 2,000 per year, which is a pace that many biologists consider to be unsustainably high. After watching the moratorium approach struggle and fail over the last quarter-century, it's time to think about alternatives. In the Spring 2013 edition of Issues in Science and Technology, Ben A. Minteer and Leah R. Gerber discuss the possibility of "Buying Whales to Save Them."

What Minteer and Gerber have in mind is that the International Whaling Commission or some similar body would set a quota for the number of whales that could be taken, based on estimates of sustainable catch from biologists. These quotas would be marketable; in particular, environmentalist groups could purchase the right to take a whale--but then not do so. As they describe it:

"Under this plan, quotas for hunting of whales would be traded in global markets. But again, and unlike most “catch share” programs in fisheries, the whale conservation market would not restrict participation in the market; both pro- and antiwhaling interests could own and trade quotas. The maximum potential harvest for any hunted species in any given year would be established in a conservative manner that ensures sustainability of the marketed species (that is, harvest levels would be established that would not permit taking more individuals than can be replaced) and maintains their functional roles in the ecosystem. The actual harvest, however, would depend on who owns the quotas. Conservation groups, for example, could choose to buy whale shares in order to protect populations that are currently threatened; they could also buy shares to protect populations that are not presently at risk but that conservationists fear might become threatened in the future."

As you might expect, this kind of proposals is controversial. Many environmentalists feel that putting a value on whales is unethical, a betrayal of the underlying values involved. Other environmentalists, especially those with an economic turn of mind, note that if those who would be catching whales sell their quota to those who do not wish to catch whales, both parties can be benefit from the exchange--and the result may be that fewer whales are killed.

Commercialization as means of environmental conservation has great examples. Markets has saved American alligators from extinction (Carpe Diem’s Mark Perry) and so with China’s private and public tiger farms as well as China's creation of “legal domestic market for some wild-life products” (Barun Mitra at PERC). 

So bring on the whale markets.