Year: 1975
Type: article
Abstract: Property rights in the world ocean are undergoing a major transition as the principle of the freedom of the seas comes under increasing pressure from economic and political forces.The freedom of the seas means, in essence, that the ocean's resources are exploited under the conditions of common property.This did not produce significantly detrimental consequences until after the Second World War, when demand for ocean resources increased very rapidly.The economic waste resulting from the common property condition is now very high.But there are, in many instances, considerable difficulties and costs associated with the removal of the conditions of common property, and it is not clear that the benefits are sufficient to cover the costs.But whether or not removal of the common property condition is economically justifiable, the political pressures for acquiring exclusive rights can be considered inexorable.The problem is one of accommodating these pressures while minimizing conflict and economic waste.*Resources for the Future, Inc. 1.For an excellent introduction to the literature on the law of the sea in general, see A.
Authors: Christy, Taylor Francis
Language: English
Subfield: Management, Monitoring, Policy and Law
Field: Environmental Science
Domain: Physical Sciences
Open Access status: green
OpenAlex ID: W3188536416