The Management of Antarctic Whaling Resources

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Abstract
The magnitude of the potential net economic yield which might be taken from the Antarctic whale stocks — of the order of half the total potential gross value of some $ 160 million — is contrasted with the failure to attain rational use of the resource. There is at present little or no economic return from Antarctic whaling because the stocks have been depleted by excessive catches. After they have been rebuilt there is still likely to be little economic return because of competition for the limited quota between countries or expeditions. It is suggested that the potential net economic yield can only be obtained by some form of international ownership. Licence fees for the right to take a share of the catch could be substantial, and provide an income which could be used in many ways, research, paid to member governments, etc. To set up such an international authority might require an initial loan to buy out those at present whaling; this loan could be repaid out of the licence fees even before the stocks had rebuilt to their optimum level.

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