Unequal Waters: A Deep Analysis of Iceland's Fishing Quota System, Resource Rent, and Community Impact

This report investigates the ethical, economic, and social consequences of Iceland’s Individual Transferable Quota (ITQ) system. It estimates the public wealth lost to underpricing and low resource rent recovery, reveals the consolidation of quota power among few corporations, and explores the devastating impact on rural fishing communities. Comparisons to Norway and Namibia offer real-world alternatives. The study outlines practical reforms, including auction-based access, cooperative models, and citizen dividends to ensure the nation benefits fairly from its natural resources.