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THE FUTURE OF THE SEABED
Author(s) -
Lewis Russell
Publication year - 2009
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2009.01898.x
Subject(s) - exploit , incentive , seabed , commodity , sovereignty , business , natural resource economics , international trade , economics , fishery , political science , market economy , finance , computer security , law , biology , computer science , politics
Increased commodity prices and improved technology have combined to increase the incentives to exploit natural resources located under the seas. However, an international seabed regime under the auspices of the United Nations presents dangers for free markets, sovereignty and security. Alternative institutional arrangements based on privatisation would produce better outcomes.