Justin Fox, Columnist

Maine Is Drowning in Lobsters

The market is booming, but it's not making anybody rich.

May 18, 2017 at 8:27 PM UTC

Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.”

Yummy.
Photographer: Justin Sullivan/Getty Images

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In his famous 1968 essay "The Tragedy of the Commons," biologist Garrett Hardin singled out ocean fishing as a prime example of self-interested individuals short-sightedly depleting shared resources:

The whales have actually been doing a lot better lately. Fish in general, not so much.