In the following article I want to examine the economic value of the ocean. I will look at its value not just from the goods it provides, but also from its symbolic value and its value as a public good. I will try to point out some of the factors that have brought shifts in the way people view and use the ocean, and try to understand some possible consequences of the demand shift for the ocean's resources. Lastly, I will address some threats that the ocean currently faces, and the economic effect that those would bring if they were to occur.
How much is the ocean actually worth? If one person owned all of its contents, borders, resources, and marketing rights, how much of a check would you have to cut him to buy it? In order to answer this question, we should first examine all the different ways that the ocean generates money in the economy.
Aside from obvious products like sea food, the ocean generates money in intangible ways through tourism, real estate, marketing, and events. The value generated by the ocean in this areas is symbolic in nature. Being able to see the ocean far off from your window does not give you added space like a backyard does, but it is often worth more. Why is this?
The ocean is often symbolic for happiness, adventure, and relaxation. It is a giant blue playground that has no connection with labor or discipline.
Unlike land, water is an ever changing swath of energy; living in front of the ocean can bring a different perspective to each day. I think that with everything in our lives being so structured, today we are lacking that sense of the unknown that lead to so many great discoveries. The ocean is one of the only places left that retains the mystique once present all around us. Personally, looking out at the ocean gives me a sense of calm and inspiration that I do not seem to get anywhere else.
How much is the ocean actually worth? If one person owned all of its contents, borders, resources, and marketing rights, how much of a check would you have to cut him to buy it? In order to answer this question, we should first examine all the different ways that the ocean generates money in the economy.
Aside from obvious products like sea food, the ocean generates money in intangible ways through tourism, real estate, marketing, and events. The value generated by the ocean in this areas is symbolic in nature. Being able to see the ocean far off from your window does not give you added space like a backyard does, but it is often worth more. Why is this?
The ocean is often symbolic for happiness, adventure, and relaxation. It is a giant blue playground that has no connection with labor or discipline.
Unlike land, water is an ever changing swath of energy; living in front of the ocean can bring a different perspective to each day. I think that with everything in our lives being so structured, today we are lacking that sense of the unknown that lead to so many great discoveries. The ocean is one of the only places left that retains the mystique once present all around us. Personally, looking out at the ocean gives me a sense of calm and inspiration that I do not seem to get anywhere else.
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