Water covers some 75% of the earth’s surface, while
land covers 25%, approximately. Yet the former accounts for less
than 1% of world GDP, the latter 99% plus. Part of the reason for
this imbalance is that there are more people located on land than
water. But a more important explanation is that while land is
privately owned, water is unowned (with the exception of a few
small lakes and ponds), or governmentally owned (rivers, large
lakes). This... more...