Tuesday 8 March 2011

Economics explains almost everything

Why are whales in danger of extinction, but not chickens?

If you own something in most cases this means you care about something. The fact is that almost every chicken alive is someone's property has a strong influence on the total amount of chickens. The owners can keep the balance between birds and sold meat because they need to have some of them alive to still receive money from selling them.
Another case concerns whales, which don't belong to anybody. They just swim in international waters and are a profit for everybody who kills and sells them. If one country doesn't do it another one will, so they have less incentive to stop hunting. 
This is a reason why whales have a greater possibility of becoming extinct.

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