Cod Wars and institutions are supposed to pacify interstate behavior. The Cod Wars are also held up as an example of the decreasing salience of hard power in international relations, with implications for realist theory which emphasizes the importance of hard power. Theorists on asymmetric bargaining have emphasized how Iceland, lacking structural power, can still have an issue power advantage, with its greater commitment to the cause. A 2017 study argues that the occurrence of the Cod Wars is inconsistent with liberal international relations theory, including the democratic peace thesis, as the "supposedly pacifying factors of the liberal peace – democracy, trade
Cod fisheries Barents Sea cod fishery appeared to be healthy but that that may not last due to illegal fishing, industrial development, and high fishing quota. According to Seafood Watch, cod is currently on the list of fish that sustainability-minded American consumers should avoid. In a on the subject, Charles Clover claims that cod is only an example of how modern unsustainable fishing industry is destroying ocean ecosystems. The collapse of the cod fishery off Newfoundland, and the 1992 decision by Canada to impose an indefinite moratorium on the Grand Banks, is a dramatic example of the consequences of overfishing. Bell has