I suppose that the only thing to do is to abolish all ocean fishing in all forms for a while (perhaps 50 years) until fish stocks regenerate. Afterwards, we need to strictly regulate all catches. At the very least, abolish fishing for all depleted species and strictly enforce the catch restrictions on the rest.

The Grand Banks, the Peruvian Anchovy fishery, and many, many, more fisheries have collapsed due to overfishing. The problems are several:

1. the tendency to overestimate sustainable annual yield.
2. the lack of policing efforts until the fishery is too dead to be worth policing.
3. the fact that the fishing industry is seeks this quarter's profits above all else, and completely ignores the future.
4. the sheer power of human stupidity.

David F Mayer