Anarchy Unbound: Why Self-Governance Works Better Than You Think by Peter Leeson

Author:Peter Leeson [Leeson, Peter]
Language: eng
Format: epub
Publisher: Cambridge University Press
Published: 0101-01-01T00:00:00+00:00

13 Ownership groups were sizeable because of the need to diversify the risk of merchant shipping. Each merchant purchased a small share in many ships rather than being the sole owner of one.

14 Because most merchant ships were owned by groups of investors, even in cases when a merchant captained his vessel himself, there remained absentee owners: his co-investors.

15 Absentee ownership was further assured by the fact that the members of merchant vessel ownership groups engaged in many commercial activities beside their concern in a particular merchant ship. These other commercial activities often required merchants to be on land to tend to their affairs rather than at sea.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.