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Moratorium Research Paper

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In 1497, John Cabot reported schools of cod so thick that they slowed down the ship off the coast of Newfoundland.[] This would set the way of life and be the income of at least 30,000 people in Newfoundland until 1992.[][] The moratorium was right to be put in place on the cod fishery. The loss of cod as a species will lead to more than just cultural and economic losses. The culture and lost of jobs was inevitable, so, the life of the species should have been saved for the better outcome.
Without the moratorium, the cod population would have gone extinct and led to several losses. Despite the moratorium, the cod species is still considered as endangered in 2012. However, the trend of cod population has started to finally return after 20 years …show more content…

The ability to maintain the population of cod was unlikely without the moratorium as new technology like trawl fishing or dragnet fishing increased harvest as well as the inclusion of international boats.[] If the cod industry were to continue without the moratorium, there would be a quick decline in harvests and eventually none at all. Consequently, the same lost in the way of life as the moratorium had done would happen. The same can be said about the loss of jobs except it would be worse since there may have been no help from the government at all. The government gave $225 per week after the initial two weeks for ten weeks and access to training for new jobs.[] Albeit this not being enough, it was better than having no help at all. If there was no moratorium, there was no guarantee for help from the government. Moreover, the government strengthened their economy after with a larger income from snow crabs and shrimp.[] After the moratorium, the government also diversified the economy from more than just fishing and improved sections such as tourism.[] A diverse economy is more stable and less vulnerable to collapsing since it is not completely reliant in one sector. This means that if an economic issue happens, then there will not be damage to the whole

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