The way the world catches fish defies all economic logic — Quartz
The global fishing industry landed $164 billion worth of marine fish in 2014. However, taking into account labor, capital, and fuel costs and subsidies, global fisheries produced a net loss of $44 billion, according to the World Bank.
By encouraging more fishing than is economical, government subsidies crash the supply of fish all the more, says Glenn-Marie Lange, economist at the World Bank and one of the report’s authors.
“There are too many vessels out there that are not only financially unprofitable but fishing way beyond what can be regenerated by the natural population,” says Lange.