Shipping and Staple Economies in the Periphery

Knick Harley

Chapter 3 in The World’s Key Industry, 2012, pp 29-42 from Palgrave Macmillan

Abstract: Abstract Shipping was an important economic activity in various parts of the periphery during the process of globalization that began with the European voyages of discovery and lasted until the closing of the continental frontiers early in the twentieth century. This important shipping activity in the periphery contrasted with the dominance of ocean shipping in the late nineteenth century that Britain, the dominant core economy, experienced. Generally globalization before the late twentieth century involved a manufacturing core area trading with a staple raw material producing periphery. Although India was central to the imperialism of this period, prototypically, the periphery consisted of areas of recent settlement where discovery, growing core demand and falling transportation costs created potential profit opportunities for staple production (sugar and tobacco in the eighteenth century and grain, meat and agricultural/industrial raw materials in the nineteenth). Exploitation of these opportunities involved the mobilization of capital and labour and its movement to the staple periphery. This process has been systematized in the staple theory of economic development.1

Keywords: Foreign Exchange; Eighteenth Century; Demand Curve; Economic History; Supply Curve (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-00375-1_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137003751

DOI: 10.1057/9781137003751_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().