Final answer:
The lobstering community of Port Lincoln sought to address the Tragedy of the Commons by limiting trap numbers and requiring licenses, fostering sustainability and responsible use of marine resources.
Step-by-step explanation:
In the 1960s, the lobstering community of Port Lincoln on Australia's southern coast implemented a system to prevent the overharvesting of resources, such as conch and lobsters, by setting a limit on the number of traps and selling licenses for those traps.
This form of government intervention was aimed at addressing the Tragedy of the Commons, as described by ecologist Garret Hardin. The idea is that without ownership or defined property rights, individuals have no incentive to sustainably manage and harvest marine life.
By setting a limit on trap numbers and requiring licenses, it not only controls the number of participants in the industry but also potentially increases the conservation of marine resources by giving licensed fishermen a vested interest in the health of the fisheries. This can lead to more sustainable fishing practices and help prevent species from being fished into extinction, thus ensuring long-term sustainability of the resource and the fishing community.