The fishing industry Marine life is the richest natural resource which Iceland has access to. This natural resource be- longs to the nation as a whole and must be used carefully and not exploited. Only the interest should be taken while the capital is left un- touched. One of the most important factors in the creation of wealth within the fishing industry is fish pro- cessing. The work which is done in freezing plants all around the country is not being valued in ac- cordance with the responsibility and training which it requires. Women make up the largest part of this labour force. They work under an incentive wage system which creates both psychological and physical pressure. New technology, larger fishing vessels, and cautionless administration has re- sulted in the endangerment of certain fish species in our waters. The quota system was a necessary evil to support practical usage of our fishing banks. This system however, has not guaranteed job security for the workers. It allows for the mer- chandizing of fish still in the sea, and needs reviewing since the fish in the sea are not merchandize but a natural resource belonging to us all. The fish auction market is an interesting experiment which can improve usage and practicality in the processing. Control is needed to ensure that the fish auc- tion market does not have a negative effect on employment and residency. There is a need for a futuristic policy in the fishing industry built on research. Fishing and the size of the fishing fleet should be in accordance with the supply of fish to ensure that this natural resource is not destroyed for us and for future generations. 26

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