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The Privatization of the Oceans
Author: Rognvaldur Hannesson

ISBN: 9780262582650
Format: Paperback
Number Of Pages: 214
Published: 14 February 2006
Country of Publication: US
Dimensions (cm): 22.9 x 15.2 x 1.2
Description:


Rich with detail and provocatively argued, this study of the development of property rights in the world's fisheries tells the story of one industry's evolution and provides a useful illustration of the forces that shape economic institutions. The emergence of exclusive individual rights of access in the fishing industry began after the revolution in the international law of the sea that took place in the 1970s, when the offshore area controlled by a nation for fish and other resources expanded from 3 miles to 200 miles. R"gnvaldur Hannesson compares the subsequent development of private property rights in the fisheries to the historic enclosures and clearances of common land in England and Scotland and finds many parallels, including bitter fights over access rights and the impossibility of accommodating all those who want to stake a claim. Overall benefit to society in the form of increased efficiency, he points out, does not mean that all benefit equally. After trac...

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