The tragedy of the commons is a great launching point for understanding this problem. Managing fish populations is one of the best examples.
For further reading, I suggest folks check out Elinor Ostrom, an economist who spent time developing regulatory solutions for managing fish populations. She was even able to implement a few!
> ... 87 populations were found to be in the “very bad” category, with biomass levels at less than 20 per cent of what is needed to maximize sustainable fishery catches
The “Tragedy of the Commons” is a straw man fallacy. The commons have historically always been collectively managed by the villagers grazing their animals on it. What you should be complaining about is the tragedy of an unmanaged (or in other words unregulated) commons.
Reading ToTC itself you'll find that this is specifically what Hardin advocates for: Mutual Coercion Mutually Agreed Upon. Unmanaged commons lead to ruin. The question is how to suitably manage them.
