Economy
The Great Lakes are today used as a major mode of transport for bulk goods. In 2002, 162 million net tons of dry bulk cargo were moved on the Lakes. This was, in order of volume: iron ore, grain and potash. The iron ore and much of the stone and coal are used in the steel industry. There is also some shipping of liquid and containerized cargo but most container ships cannot pass the locks on the Saint Lawrence Seaway because the ships are too wide. The total amount of shipping on the lakes has been on a downward trend for several years.
The Great Lakes are used to supply drinking water to tens of millions of people in bordering areas. This valuable resource is collectively administered by the state and provincial governments adjacent to the lakes.
Tourism and recreation are major industries on the Great Lakes. A few small cruise ships operate on the Great Lakes including a couple of sailing ships. Sport fishing, commercial fishing, and Native American fishing represent a U.S.$4 billion a year industry with salmon, whitefish, smelt, lake trout and walleye being major catches. Many other water sports are practiced on the lakes such as yachting, sea kayaking, diving, kitesurfing, and lake surfing.
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Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“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)