ABSTRACT
Ocean enclosures have generally followed the pattern of land enclosures. The enclosure movement of the oceans not only is preferable on economic grounds to the previous era of freedom-of-the-seas but it is also superior to the treaty under negotiation at the United Nations Conference on the Law of the Sea (UNCLOS). Countries that are lucky enough to be situated close to important straits or fisheries can gain through enclosure some amount of wealth relative to the world as a whole, but everyone benefits at least a little from the better resource allocation that also results. The enclosure movement of the oceans—a relatively peaceful and quiet “revolution” in the ownership of marine resources—has come about with very little fanfare but with much potential for reducing economic waste. The enclosure movement is not quite a perfect means for avoiding all inefficiencies in ocean resource management, but in comparison with the results of UNCLOS enclosure positively shines.
