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Shifting baselines is how a system is measured against prevous points which are gathered from older points so the newer base line might be lower by a significant margin. A way that this problem might be adverted is use carrying capacity as a referance point instead of this.
Carrying capacity is definitely a better angle than MSY. I dont like have economics running everything, to much greed involved. More political ecologist so we can have a social perspective of management.
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Fish and Fisheries in a Changing World