From Hudson’s Bay to eBay

Daniel Friedman

Chapter 8 in Morals and Markets, 2008, pp 107-124 from Palgrave Macmillan

Abstract: Abstract In 1805, the venerable Hudson’s Bay Company was sinking fast. Since 1670, its Royal Charter had given it a monopoly on the best trade routes to Europe for fine Canadian furs, but the lucrative business recently attracted a new firm, North West. Its trappers and traders had to haul furs an extra fifteen hundred miles in birchbark canoes, often over killing portages. Despite that huge cost disadvantage, North West had somehow managed to seize over 80 percent of market share, and Hudson’s Bay’s stock was in freefall.

Keywords: Family Firm; Moral Code; Specialized Investment; Piece Rate; Money Center Bank (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1057/9780230614987_9

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