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Epilogue: A Key Industry or an Invisible Industry?

  • Gelina Harlaftis
  • Stig Tenold
  • Jesús M. Valdaliso

Abstract

The title of this volume presents shipping as ‘the world’s key industry’, but this primarily reflects the insiders’ view of the role of shipping. In mainstream economic history and economics, however, another, less advantageous epithet would be more fitting, namely ‘the invisible industry’. Maritime transport has never played a central role in the main academic debates of economic history or economics.3 At the same time, all the chapters in this volume have shown that shipping has been crucial to the emergence of a global economy.

Keywords

Economic History Shipping Industry Freight Rate Maritime Transport Maritime Industry 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 3.
    For an excellent discussion of why this has been the case, see F. Broeze (1989) ‘From the Periphery to the Mainstream: The Challenge of Australia’s Maritime History’, The Great Circle, 11, 1, pp. 1–14.Google Scholar
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  3. 6.
    L. R. Fischer and H.W. Nordvik (1986) ‘Maritime Transport and the Integration of the North Atlantic Economy, 1850–1914’, in W. Fischer, H. McInnis and J. Schneider (eds) The Emergence of a World Economy, Vol. II ( F. Steiner: Wiesbaden) discuss ‘efficient markets’ primarily in the context of distribution of capital; we interpret this element slightly differently.Google Scholar
  4. 7.
    Y. Kaukiainen (2008) ‘Growth, Diversification and Globalization: Main Trends in International Shipping Since 1850’, in L. R. Fischer and E. Lange (eds), International Merchant Shipping in the Nineteenth and Twentieth Centuries: The Comparative Dimension ( St John’s: IMEHA ).Google Scholar
  5. 10.
    H. Varian (2007) ‘An iPod has Global Value. Ask the (Many) Countries that Make It.’ New York Times, 28 June 2007.Google Scholar
  6. 11.
    Directorate for Science, Technology and Industry The Role of Changing Transport Costs. See also R. Feenstra (1998) ‘Integration of Trade and Disintegration of Production in the Global Economy,’ Journal of Economic Perspectives, vol. 12, No. 4, pp. 31–50CrossRefGoogle Scholar
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    M. Stopford (2007) Maritime Economics, 2nd edn ( London: Routledge). At least since Knight we know that the greater the risk the more important is the role of entrepreneurs and the higher the returns mayGoogle Scholar
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    See D. C. North (1960) ‘The United States Balance of Payments, 1790–1860’, in Trends in the American Economy in the Nineteenth Century: Studies in Income and Wealth, Vol. 24 (Princeton: Princeton University Press), pp. 575–6Google Scholar
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    G. Harlaftis, H. Thanopoulou and I. Theotokas (2009) The Present and the Future of Greek Shipping ( Athens: Academy of Athens), chapter 6.Google Scholar
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    For an attempt at remedying this, see P. Krugman (1993) Geography and Trade ( Cambridge: MIT Press).Google Scholar
  19. 24.
    L. R. Fischer (2010) ‘Are We in Danger of Being Left with Our Journals and Not Much Else?: The Future of Maritime History’, The Mariners’ Mirror, 97, 1, pp. 366–81.CrossRefGoogle Scholar

Copyright information

© Gelina Harlaftis, Stig Tenold and Jesús M. Valdaliso 2012

Authors and Affiliations

  • Gelina Harlaftis
  • Stig Tenold
  • Jesús M. Valdaliso

There are no affiliations available

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