Business Quote by John Ralston Saul
““Our essential difficulty is that we are seeking in a mechanism, which is necessary, qualities it simply does not possess. The market does not lead, balance or encourage democracy. However, properly regulated it is the most effective way to conduct business. It cannot give leadership even on straight economic issues. The world-wide depletion of fish stocks is a recent example. The number of fish caught between 1950 and 1989 multiplied by five. The fishing fleet went from 585,000 boats in 1970 to 1.2 million in 1990 and on to 3.5 million today (1995). No one thought about the long- or even medium-term maintenance of stocks; not the fishermen, not the boat builders, not the fish wholesalers who found new uses for their product, including fertilizer and chicken feed; not the financiers. It wasn't their job. Their job was to worry about their own interests. (IV - From Managers and Speculators to Growth)””
About This Quote
Source Book: Managers and Speculators to Growth, John Ralston Saul, 1995
Markets can efficiently allocate resources but lack the capacity to ensure long‑term sustainability or democratic outcomes without external regulation.
In simple terms: Markets are good at short‑term efficiency but need rules for long‑term health.
Key Takeaway
Add governance to protect shared resources.
Themes
economics
environment
governance
sustainability
Mood
concerned
analytical
Type
policy
environmental
economic
When to use this quote
- fishing industry
- resource management
- policy design
- corporate strategy
- environmental planning
Key Concepts
externalities
tragedy of the commons
regulation
Questions to Reflect On
- How can we align profit motives with ecological stewardship?
- What regulatory tools best prevent resource overuse?
A Different Perspective
Markets alone cannot solve collective‑action problems; they may exacerbate depletion.
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