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 with the public, and would not acknowledge the right of bureaucrats to impede that dialogue. To be effective, such ethical issues need to be included in science curricula. Cod has been an important economic commodity in an international market since the Viking period (around AD 800). Norwegians used dried cod during their travels, and soon a dried cod market developed in southern Europe. This market has lasted for more than 1,000 years, passing through periods of Black Death, wars and other crises and still is an important Norwegian fish trade. The Portuguese since the 15th century have been fishing cod