Why are so many managed wild fisheries in collapse?

Virtually all wild fisheries are at capacity or overfished, many to collapse.  The majority of these fisheries are or were under some form of management- so what gives?  Ignoring the fact that many fishery management schemes are either poorly enforced or unenforceable, there is is one overarching and fundamental flaw that would make fishery management as currently practiced ineffective even in an ideal global enforcement regimen: MSY.

MSY is the abbreviation for Maximum Sustainable Yield.  MSY reflects the the largest yield/catch that can be taken from a species' stock over an indefinite period.  Reliance on MSY is based on several erroneous assumptions, including: (1) fish and ocean systems are infinitely resilient; (2) it reflects an agricultural malleability of  species that is not reflective of wild species; (3) it presumes science and technology can effectively model and evaluate dynamic wild ecosystems; (4) it assumes there is a "surplus" population of fish; and (5) its assumes a free market in seafood where falling efficiencies would be reflected in a switch to other enterprises. In fact none of these assumptions are true, and the the result is the only way to determine MSY is to "fish though" this level to an overfished condition.  Thus, it is no surprise virtually all fisheries are at this state.  

Applying MSY (or its recent variant Optimum Sustainable Yield) marine managers are using flawed science to focus on individual fish rather than focus on the overall impact of fishing of fishing on ocean ecosystems. This needs to stop, however, this will require political and legal change as MSY is incorporated into most marine fishery legislation and treaties.

My efforts at espousing and advocating Cultural Sustainability will hopefully be a first step in changing the way we view and manage our ocean and marine resources.