There is little doubt since the institution of catch shares and limited entry that it has done two things: stabilize fisheries and at the same time, make entry into them daunting. I'm not sure that our approach to 'the tragedy of the commons' is the best one but none of them will ever be fair in a libertarian sense, however, in my opinion, any of them are better than an open range. Too often, the way we pick winners and losers is the rub.