Uploaded on 2015-06-30 by patelmihir021021

Sustainable fisheries. My home city, the city of New Bedford, Massachusetts, is an historic coastal city on the Atlantic Ocean coast. During the 19th century, we were the leading whaling port in the country. We are perennially the number one fishing port in the United States in terms of value of catch and fleet size. In 2013, for example, that value was $379 million dollars. The success and long-term prospects for the fishing industry depend on having sustainable fisheries. Our main fishery is Georges Bank, one of the greatest fisheries in the world. Attached Image is taken from internet. ![enter image description here][1] Second Fishing Fleet However, fisheries throughout the world are in great danger. Some have collapsed and the promise of their recovery is not good. Many others are on the verge of collapse. Virtually all fisheries worldwide are threatened. There are two main reasons for the state of world fisheries. One is the impact of climate change, in particular global warming. The second is overfishing. There is a critical need for the implementation of effective fisheries management and sustainable fishing practices, as well as a mitigation of the effects of global warming on the fisheries. With these, fishing will continue to be an important element in both my city's as well as the world's economy. Not to mention a sustainable food stock/supply for a large segment of the world's population.. Two - Gambling Casino The second example of stocks and flows that I present is associated with the establishment of casino gambling in New Bedford. Various parties are working very hard to bring casino gambling to our city. The city government itself sees casino gambling as a boon to the local economy due to: tax revenue from the casino increased employment increased tourism with hopefully a significant amount of money being spent or local goods and service sin the city proper, outside of the casino complex. In this example, the basic inflow is that of money flowing into the city in terms of purchases, taxes and investments. The stock is value in the form of money coming into and remaining in the local economy. We ignore for the moment such things as human capital stocks and flows associated with the introduction of casino gambling into an urban area. Positive capital in this case would be intelligent, motivated and productively employed people moving into the city. Negative capital would represent people whose productivity has been degraded because of the negative effects, direct and indirect, of gambling and who become a burden on society. The capital outflow associated with casino gambling would be money spent on gambling and ancillary services that went back out of the city to the casino owners, stockholders, as well as new costs to the city as a result of increased crime, unemployment, health impacts, ... As well as money flowing back into the city in terms of purchases and investments. A fundamental challenge would be to maximize the amount of money that is spent in the city outside of the casino complex, and keeping this money in the city and circulated within the city. Three - The People of the City The third basic stock and flow is that of the people of the city itself. We need to increase the attractiveness of the city so as to attract more productive, competent, creative people into the city and to retain those people already here who are productive citizens. We need to reduce the flow of young, people who leave the city for employment opportunities elsewhere. We need to attract new business and industry that will employ these young people, many of whom want to stay but leave because the employment opportunities are not here. [1]: https://edxuploads.s3.amazonaws.com/14356127532658245.jpg