The Ocean’s Riches

This chapter discusses the resources contained in or under the world’s oceans, which have been somewhat neglected by political theorists but which are hugely significant. It first discusses the case of fishing rights, in which we have seen a mixture of extended state control and unconstrained exploitation in the area beyond state jurisdiction, and shows that this approach has failed to deliver on either intra-generational justice or sustainability. It then discusses the mineral resources contained in the portions of the seabed which still fall beyond state control. Agreement has been reached, under the auspices of the International Seabed Authority, to harness the exploitation of these potentially valuable minerals to promote global equality. The chapter welcomes this development and identifies some wider lessons we might draw from it for the struggle to put resources to work to promote global equality.