Source: Adam Smith Institute
by Madsen Pirie
“The European Union presents itself to the world as the gold standard of regulated, enlightened governance. Nowhere is the gap between that self-image and reality more vivid than in its management, or rather mismanagement, of the seas. The Common Fisheries Policy, now over four decades old, stands as one of the more instructive monuments to what happens when a bureaucratic cartel manages a commons. Everyone takes as much as they can, the resource collapses, and Brussels announces a new action plan.” (06/30/26)