For 5000 years shipping has served the world economy and today it provides a sophisticated transport service to every part of the globe. Yet despite its economic complexity, shipping retains much of the competitive cut and thrust of the -perfect- market of classical economics. This blend of sophisticated logistics and larger than life entrepreneurs makes it a unique case study of classical economics in a modern setting.
The enlarged and substantially rewritten Maritime Economics uses historical and theoretical analysis as the framework for a practical explanation of how shipping works today. Whilst retaining the structure of the second edition, its scope is widened to include:
- lessons from 5000 years of commercial shipping history
- shipping cycles back to 1741, with a year by year commentary
- updated chapters on markets; shipping costs; accounts; ship finance and a new chapter on the return on capital
- new chapters on the geography of sea trade;
