[semi-extrinsic]

Au contraire, what has actually been quite successful in the North Atlantic for the past four decades is the extension of territorial water limits out to 200 nautical miles and beyond. This is coupled with coast guard-enforced fishing quotas set by an independent panel of biologists. The fishermen complain loudly of course, which is a very good sign.

[eru]

Sorry, what I meant to write is more like 'really nail down the ownership rights, and have someone who's responsible'.

'Privatise' was just the short-hand I picked for that, but making a government responsible can also work, if you have one that functions well enough.

What doesn't work is having only nebulous responsibility at best, no clear rules apart from 'first-come-first-serve' / take as much as you can.