The raw materials sharing system for crab was attempting to deal with the oversupply of processing capacity (too many plants) and a relatively limited supply of crab by forcing the crab industry to share the crab around under a system of fixed prices.
Spread the resource as thinly as possible so everyone gets a piece of it, no matter how small.
After an admittedly quick read-through it seems to me that the Richard Cashin method of dealing with the same problem is to smear the limited supply of crab around to as many processors as possible so everyone gets some, even if it is just a little bit. There's a complex system to set prices.
He calls it "production limitation".
The name is changed.
The goal is still the same:
Pass the political buck to a future generation.
So much for a New Approach.