Economy
The territory's natural resources are limited to fish and crustaceans; economic activity is limited to servicing meteorological and geophysical research stations and French and other fishing fleets.
The main fish resources are Patagonian toothfish and spiny lobster. Both are poached by foreign fleets; because of this, the French Navy and occasionally other services patrol the zone and arrest poaching vessels. Such arrests can result in heavy fines and/or the seizure of the ship.
France used to sell licences to fish the Patagonian toothfish to foreign fisheries; because of overfishing, it is now restricted to a small number of fisheries from Réunion Island.
The territory takes in revenues of about €16 million a year.
Read more about this topic: French Southern And Antarctic Lands
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)