Privatizing the sea: How private corps stole the sea from the commons
Since 1945, when the US unilaterally asserted ownership of the continental shelf and parts of the high seas around its shores, much of the ‘blue commons’ has been converted into private property. In 1982, UNCLOS (United Nations Convention on the Law of the Sea) endorsed the biggest enclosure in history, granting countries exclusive economic zones (EEZs) that extended 200 nautical miles from their coastlines. This set in train procedures and institutional mechanisms that have expanded privatisation and financialisation to all parts of the marine economy. It also cemented neocolonialism, granting ex-imperial countries such as the US, France and the UK millions of square miles around lands far from their shores — their so-called ‘overseas territories’. >click to read< 09:18
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