Exactly, an equilibrium will always result and self-regulation will occur. This is just like the greenhouse effect (in a way). If worldwide CO2 is on the rise, plants will grow better (that's been proven) and CO2 goes back down. It's like you said, "a concept totally lost on most leftist".
The problem IMO is that fishing rights are not transferable property. The stock of fish itself therefore has much less value to the fisherman -- rather like someone who has a derivative claim on a stock's dividend, he's not interested in retaining earnings because they're not his.
What natural science theory do you base this on? You really have no basis for these assertions. Natural cycles are actually highly unstable with huge overpopulations and die-offs every few years. The North Atlantic fisheries system will reproduce this, just as the writer predicts.
Like with Dom Perignon, Cadillacs, Rolex watches. . .???parsy