Recapture of Economic Rent under the FCMA: Sections 303-304 on Permits and Fees

The purpose of this brief article is to consider these interpretations of the Act and to suggest, in contrast, that the Act can and should be interpreted as preserving some methods of capturing the increased economic rent that will probably be generated by a limited-entry scheme. Discussion centers about the terms of the Act itself and the guidance they provide, the legislative history of the Act, and the removal of ambiguity or uncertainty by reference to the major purposes sought by the Act.