Liverpool merchants versus Ohmi merchants: how and why they dealt with risk and insurance differently
Yasuhiro Sakai ()
Additional contact information
Yasuhiro Sakai: Shiga University
Asia-Pacific Journal of Regional Science, 2018, vol. 2, issue 1, 15-33
Abstract The purpose of this paper is to intensively discuss and carefully compare the Liverpool merchants of Britain and the Ohmi merchants of Japan in a historical perspective. The question of much interest is how and why those two merchants dealt with risk and insurance differently. In his later years, J. R. Hicks made a great contribution to the theory of economic history. He paid a special attention to the rise of the market in which the merchant played as the main actor of the history theater. According to the Hicks doctrine, the relation between theory and history should not be one-to-one, but rather flexible to a certain degree. Therefore, it would be quite interesting to compare the Liverpool merchants of Britain and the Ohmi merchants of Japan. It will be seen that they were engaged in their respective triangular trade, producing their respective socioeconomic systems. In short, we have to take a pluralistic view to fully understand the concept of risk and insurance from the viewpoint of economic history.
Keywords: Liverpool merchants; Ohmi merchants; Risk; Insurance; Triangular trade (search for similar items in EconPapers)
JEL-codes: F14 N10 N70 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s41685-017-0047-z Abstract (text/html)
Access to the full text of the articles in this series is restricted.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:apjors:v:2:y:2018:i:1:d:10.1007_s41685-017-0047-z
Ordering information: This journal article can be ordered from
https://www.springer ... cience/journal/41685
Access Statistics for this article
Asia-Pacific Journal of Regional Science is currently edited by Yoshiro Higano
More articles in Asia-Pacific Journal of Regional Science from Springer
Bibliographic data for series maintained by Sonal Shukla ().