Lewis R. Fischer
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.003.0007
- Subject:
- History, Maritime History
Lewis R. Fischer addresses the imbalance of wages in Norwegian maritime markets and finds that despite the integration from local to regional markets, the system remained inefficient.
Lewis R. Fischer addresses the imbalance of wages in Norwegian maritime markets and finds that despite the integration from local to regional markets, the system remained inefficient.
Lewis R. Fischer (ed.)
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- book
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.001.0001
- Subject:
- History, Maritime History
This volume collects eight essays that all attempt to answer two key concerns: did markets for seafarers exist in the age of sail; and, if so, were these markets efficient? The question was initially ...
More
This volume collects eight essays that all attempt to answer two key concerns: did markets for seafarers exist in the age of sail; and, if so, were these markets efficient? The question was initially approach by Charles Kindleberger, who claims a market is efficient if it permits free access for employer and employee, is supply and demand match balance so that wages increase, and that labour must command the same price across the market. The first four focus on the broadly defined early-modern period, and all agree on the existence of the markets but are divided over whether or not they are efficient. The second section asks the same questions of the nineteenth century, and receives similar answers. All of the essays take issue with the definition and application of the term ‘efficiency’ when approaching their conclusions. Each author is considered an expert within their field, and all base their research on the North Atlantic.Less
This volume collects eight essays that all attempt to answer two key concerns: did markets for seafarers exist in the age of sail; and, if so, were these markets efficient? The question was initially approach by Charles Kindleberger, who claims a market is efficient if it permits free access for employer and employee, is supply and demand match balance so that wages increase, and that labour must command the same price across the market. The first four focus on the broadly defined early-modern period, and all agree on the existence of the markets but are divided over whether or not they are efficient. The second section asks the same questions of the nineteenth century, and receives similar answers. All of the essays take issue with the definition and application of the term ‘efficiency’ when approaching their conclusions. Each author is considered an expert within their field, and all base their research on the North Atlantic.
Morten Hahn-Pedersen and Pout Holm
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.003.0008
- Subject:
- History, Maritime History
Morten Hahn-Pedersen and Poul Holm consider the fishing and shipping markets in Denmark and believe the wage inconsistencies reflect an inefficient system.
Morten Hahn-Pedersen and Poul Holm consider the fishing and shipping markets in Denmark and believe the wage inconsistencies reflect an inefficient system.
Carla Rahn Phillips
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.003.0001
- Subject:
- History, Maritime History
Carla Rahn Phillips considers the market for maritime labour in early-modern Spain, finding that despite the necessity of sailors and existence of the market, wages remained low and skilled maritime ...
More
Carla Rahn Phillips considers the market for maritime labour in early-modern Spain, finding that despite the necessity of sailors and existence of the market, wages remained low and skilled maritime labourers did not have bargaining power, rendering the system inefficient.Less
Carla Rahn Phillips considers the market for maritime labour in early-modern Spain, finding that despite the necessity of sailors and existence of the market, wages remained low and skilled maritime labourers did not have bargaining power, rendering the system inefficient.
David M. Williams
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.003.0005
- Subject:
- History, Maritime History
David Williams discusses the emergence on the advance note and the tremendous influence it had on market behaviour, indicating inefficient markets.
David Williams discusses the emergence on the advance note and the tremendous influence it had on market behaviour, indicating inefficient markets.
Yrjö Kaukiainen
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.003.0006
- Subject:
- History, Maritime History
Yrjo Kaukiainen considers Finland’s history of interconnected local maritime labour markets, but also struggles to quantify their ‘efficiency’ after also taking issue with the ambiguous phrase.
Yrjo Kaukiainen considers Finland’s history of interconnected local maritime labour markets, but also struggles to quantify their ‘efficiency’ after also taking issue with the ambiguous phrase.
Paul C. van Royen
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.003.0003
- Subject:
- History, Maritime History
Paul van Royen focusses on seventeenth and eighteenth century Netherlands, and finds the organisations functioned well but enable huge discrepancies in wages.
Paul van Royen focusses on seventeenth and eighteenth century Netherlands, and finds the organisations functioned well but enable huge discrepancies in wages.
Ralph Davis
- Published in print:
- 2012
- Published Online:
- January 2019
- ISBN:
- 9780986497384
- eISBN:
- 9781786944467
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.5949/liverpool/9780986497384.003.0007
- Subject:
- History, Maritime History
This chapter studies the conditions of crewmen during the seventeenth and eighteenth centuries through the systems of payment and wages. It explores the methods by which wages were calculated - such ...
More
This chapter studies the conditions of crewmen during the seventeenth and eighteenth centuries through the systems of payment and wages. It explores the methods by which wages were calculated - such as through shares of the ship’s earnings or payment in lump sum, often the case for shorter voyages. It finds that peace and wartime rates differed, and seeks to determine the reasons for the stability of peacetime wages. It then breaks down the crew roles and their payment rates, and compares the difference between master, mate, and carpenter wages. It give further attention to legislative regulation; advance payments; contributions to social security; and portage. The relationship between wages for slave trade cargoes also comes under consideration, due to disputes over crew requests to carry slaves freight free. Finally, it looks at the difficulties and dangers of the seafaring life, in order to determine why so many men took the risks involved in a career at sea.Less
This chapter studies the conditions of crewmen during the seventeenth and eighteenth centuries through the systems of payment and wages. It explores the methods by which wages were calculated - such as through shares of the ship’s earnings or payment in lump sum, often the case for shorter voyages. It finds that peace and wartime rates differed, and seeks to determine the reasons for the stability of peacetime wages. It then breaks down the crew roles and their payment rates, and compares the difference between master, mate, and carpenter wages. It give further attention to legislative regulation; advance payments; contributions to social security; and portage. The relationship between wages for slave trade cargoes also comes under consideration, due to disputes over crew requests to carry slaves freight free. Finally, it looks at the difficulties and dangers of the seafaring life, in order to determine why so many men took the risks involved in a career at sea.
David J. Starkey
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.003.0004
- Subject:
- History, Maritime History
David Starkey studies eighteenth century England, noting a fluctuation between efficiency and inefficiency across markets.
David Starkey studies eighteenth century England, noting a fluctuation between efficiency and inefficiency across markets.
Vince Walsh
- Published in print:
- 1994
- Published Online:
- May 2019
- ISBN:
- 9780969588566
- eISBN:
- 9781786944870
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780969588566.003.0002
- Subject:
- History, Maritime History
Vince Walsh examines Salem, Massachusetts, and finds that the market within Salem was efficient yet would only recruit within Salem and suffered as a result.
Vince Walsh examines Salem, Massachusetts, and finds that the market within Salem was efficient yet would only recruit within Salem and suffered as a result.
Ralph Davis
- Published in print:
- 2012
- Published Online:
- January 2019
- ISBN:
- 9780986497384
- eISBN:
- 9781786944467
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.5949/liverpool/9780986497384.003.0015
- Subject:
- History, Maritime History
This chapter considers the financial impact of war on British shipping during the seventeenth and eighteenth centuries. It attempts to discern the number of merchant ship losses during the ...
More
This chapter considers the financial impact of war on British shipping during the seventeenth and eighteenth centuries. It attempts to discern the number of merchant ship losses during the Anglo-Spanish War, Anglo-French War, Seven Years’ War, and the Dutch Wars by scrutinising Admiralty records of loss estimates. It examines privateering activity; wartime insurance rates; the rise in seafaring wages; naval impressment; the disruption to trade cycles; the hiring of ships by the government; and a contrast of tonnage rates between periods of peace and war to determine the financial cost of war to the shipping industry. It concludes that though war made many demands of the merchant shipping industry, merchants and shipowners knew that successful campaigns would lead to the expansion of a British shipping monopoly, and so deemed war financially worthwhile in the long run.Less
This chapter considers the financial impact of war on British shipping during the seventeenth and eighteenth centuries. It attempts to discern the number of merchant ship losses during the Anglo-Spanish War, Anglo-French War, Seven Years’ War, and the Dutch Wars by scrutinising Admiralty records of loss estimates. It examines privateering activity; wartime insurance rates; the rise in seafaring wages; naval impressment; the disruption to trade cycles; the hiring of ships by the government; and a contrast of tonnage rates between periods of peace and war to determine the financial cost of war to the shipping industry. It concludes that though war made many demands of the merchant shipping industry, merchants and shipowners knew that successful campaigns would lead to the expansion of a British shipping monopoly, and so deemed war financially worthwhile in the long run.
Ralph Davis
- Published in print:
- 2012
- Published Online:
- January 2019
- ISBN:
- 9780986497384
- eISBN:
- 9781786944467
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.5949/liverpool/9780986497384.003.0017
- Subject:
- History, Maritime History
This penultimate chapter attempts to answer whether or not merchant shipping in the seventeenth and eighteenth centuries was a profitable enterprise. It first quantifies the costs of operating ships, ...
More
This penultimate chapter attempts to answer whether or not merchant shipping in the seventeenth and eighteenth centuries was a profitable enterprise. It first quantifies the costs of operating ships, including wages, earnings, and profit, by analysing the account books of shipmasters and various other contemporary sources. It divides running costs into four sections: wages and crew costs; repairs and stores; port charges, pilotage and lighthouse dues; and miscellaneous expenses; and explores each in turn. After determining the cost of operations and of ships themselves, it then considers capital charge rates per annum. It asserts that voyage estimates alone cannot determine the profitability of shipping, and so turns to examine rates of financial ruin; increases in flow of capital into the industry; and the nature of fluctuating returns inherent to long-distance shipping. It concludes that these factors caused profit to vary, but stresses that it was not merely financial gain that led people to a career at sea, but an affection for ships and the appetite for adventure as much as enterprise, which renders financial gain less imperative.Less
This penultimate chapter attempts to answer whether or not merchant shipping in the seventeenth and eighteenth centuries was a profitable enterprise. It first quantifies the costs of operating ships, including wages, earnings, and profit, by analysing the account books of shipmasters and various other contemporary sources. It divides running costs into four sections: wages and crew costs; repairs and stores; port charges, pilotage and lighthouse dues; and miscellaneous expenses; and explores each in turn. After determining the cost of operations and of ships themselves, it then considers capital charge rates per annum. It asserts that voyage estimates alone cannot determine the profitability of shipping, and so turns to examine rates of financial ruin; increases in flow of capital into the industry; and the nature of fluctuating returns inherent to long-distance shipping. It concludes that these factors caused profit to vary, but stresses that it was not merely financial gain that led people to a career at sea, but an affection for ships and the appetite for adventure as much as enterprise, which renders financial gain less imperative.
