Munich Personal RePEc Archive
On the Problem of Dependent People:
hyperbolic discounting in Atlantic Canadian island jurisdictions
Funk, Matt
University of prince edward island
20 November 2007
Online at https://mpra.ub.uni-muenchen.de/14522/
MPRA Paper No. 14522, posted 08 Apr 2009 14:08 UTC
On the Problem of Dependent People:
Hyperbolic Discounting in Atlantic
Canadian
island jurisdictions
In celebration of the life of an independent woman!
For my grandmother,
1Frieda Holley December 28
th, 1917 - November 20
th, 2007
Funk © 2007 20 November 2007
Matt Funk
Department of Island Studies The University of Prince Edward Island
46.3° N, 63.1° W
matt@funkisland.org
ABSTRACT
Prince Edward Island's Economics, Statistics and Federal Fiscal Relations Division's 33
rdAnnual Statistical Review reports the total value of 2006 fish landings was CAD 166.6 MM. This paper discloses a preliminary finding that the actual total value of fish landings for 2006 was approximately CAD 416.5 MM. Furthermore, this discourse submits that this entrenched systemic error has been consistently generated for all 33 years that the Annual Statistical Review has been published. Moreover, this systemic error creates a ripple-effect and promotes bias through all relative natural resource valuations. This significant conjecture is presented within an institutional context which serves as the foundation for this error generation, including other errors associated with The Problem of Induction. Within this broad context, this paper focuses upon deficient resource valuation methods, especially as they relate to (1) The Problem of Continental Economics and (2) The Problem of Dependent People. Solutions are presented by contrasting the failure of fishery management methodology and practice amongst dependent Canadian islanders, and the relative success of fishery management amongst independent Icelandic islanders. The possibilities that independent people enjoy higher levels of rationality, efficiency, happiness
2, economic sustainability, general well- being, and are thus, ceteris paribus, less likely to commit errors associated with The Problem of Induction are taken into consideration. Likewise, consideration is given to the notion that dependent people are more likely to exhibit irrational behaviour, develop deeper dependencies
3, foster totalitarian governments, and to contribute to a wide- array of systemic errors, such as those which exacerbate The Problem of Global Warming.
ABBREVIATIONS:
CAD Canadian Dollar
EU European Union
GNP Gross National Product
GDP Gross Domestic Product
M 1,000
PEI Prince Edward Island
SNIJ Sub-National Island Jurisdiction/Canadian Island Jurisdictions TPI The Problem of Induction
TPGW The Problem of Global Warming
UN United Nations
FOREWORD
The particular quality of the reflections cast by historical expositions, especially political and economic expositions, are dependent upon which stones or which seas the searcher elects to illuminate
4; thus I endeavour to bear in mind that “our knowledge, as well as our ignorance, at any time and on every issue, tends to be opportunistically
conditioned, and thus brought to deviate from full truth
5;” or, as an independent man who understands the true value of insularity once observed, “when we chase the shore for treasures the ones we discover are the ones we carry there with us
6”.
We must also endeavour to heed the call of Randall Wallace's (1995) selective re-creation
7of the life of another independent man, and the essence of Scottish independence:
EXT. MACANDREWS FARM - DAY
A farmhouse and a large barn lie nestled in a Scottish valley. Riding down the roads that lead in from opposite sides are Scottish noblemen in full regalia...
VOICE OVER (CONT’D)
Historians from England will say I am a liar. But history is written by
those who have hung heroes [italics mine].