Ocean Economy, Governance and Growth

Photo: Iris/Scanpix

Water covers some 75 percent of the earth’s surface, while land covers 25 percent. Approximately the former accounts for less than 1 percent of world GDP, the latter 99 percent plus. How come?
In his recent book “Water Capitalism: The Case for Privatizing Oceans, Rivers, Lakes, and Aquifers,” Dr. Block advocates privatization of oceans as the way forward in order to economically prosper whilst simultaneously taking care of ocean ecosystems and marine inhabitants.  

On Water Capitalism
The purpose of this book is to make the case for privatization of all bodies of water, without exception. In the tragic example of the Soviet Union, the 97 percent of the land owned by the state accounted for 75 percent of the crops. On the 3 percent of the land privately owned, 25 percent of the crops were grown. The obvious mandate requires that we privatize the land, and prosper. The present volume applies this lesson, in detail, to bodies of water.

About Walter Block
Dr. Walter Block wrote his dissertation under Nobel Laurette Gary Becker at Columbia. He has authored over 500 peer-reviewed research articles and numerous other works, including several books. The most famous of which is “Defending the Undefendable” which defends roles often portrait as the villains of capitalism. It is translated into ten languages. He currently holds Harold E. Wirth Eminent Scholar Endowed Chair in Economics at the J. A. Butt School of Business at Loyola University New Orleans. He is known as an engaging and entertaining speaker and a much-used commentator.