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THE FUTURE OF THE SEABED

Authors


Russell Lewis is a former leader writer for the Daily Mail, a former acting General Director of the Institute of Economic Affairs, and former director of the Conservative Political Centre (lewisrussell@btopenworld.com).

Abstract

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.

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