The LOST establishes rules for such matters as resource jurisdiction, navigation, and seabed mining. Although proponents of the treaty say that an internationally recognized system of rules is important, commerce and transportation have proceeded unhampered without the treaty, and other mechanisms exist for resolving international disputes. Moreover, the treaty’s objectionable provisions on seabed mining, if they become effective, will harm both the West and the developing world. The LOST’s mandates will increase costs and depress productivity.
It is senseless to embrace a treaty that embodies the most odious features of centralized planning. The United States should continue to reject the LOST and promote a market‐oriented system that would truly benefit both the developed and the developing world.