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Ocean Freight Rates and Economic Development 1730-1913

Bibliographic Data

ID4901040
AuthorsDouglass C North (University of Washington, corresponding author), Douglass North
Year1958
Volume18
Issue4
Pages537-555
Publication date1958-12-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Journal of Economic History (JOURNAL)
Journal identifiersISSN: 0022-0507 • E-ISSN: 1471-6372
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0022050700107739
OpenAlexW1893777975
LanguageEN
Citations received75
References cited6

Revolutionary developments in transport have been an essential feature of the rapiddevelopments in transportgrowth of the past two centuries. Reduction in the cost of carriage has enabled specialization and division of labor on a national and international basis to replace the relatively self-sufficient economies that predominated in the western world two centuries ago. The striking role of the railroad in the nineteenth century is well known. However, it was water transport in which the bulk shipment of commodities began, and it was the development of ocean shipping that was an integral aspect of die growing economic interdependence of the western world, the opening up of the undeveloped continents, and the promotion of the settlement of the "empty lands." The declining cost of ocean transportation was a process of widening the resource base of the western world. The agriculture of new countries was stimulated (and that of old countries at least temporarily depressed), the specter of famine as a result of crop failure reduced, and the raw materials were provided for industrialization. In short, the radical decline in ocean freight rates was an important part of the redirection of the resources of the western world in the course of the vast development of die past two centuries

Agriculture · Archaeology · Business · Economics · Economy · Famine · Geography · Industrialisation · Market economy · Natural resource economics · Resource (disambiguation) · Global Maritime and Colonial Histories · Global trade and economics · Maritime Ports and Logistics

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Unique citing works75
Citations per year1,27
Citation span1967 - 2026 (60)
Citation velocitycurrent
Highly citedNo
Citation typesNeutral: 66

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