essay2 - Following each World War, there was a great...

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Following each World War, there was a great decline in the United States’ shipping situations. Prior to each World War, there was a vast surplus of merchant vessels to be used for wartime trade and supply operations. However, the rapid decline in the merchant fleet was due to several factors, though different following each conflict. In the 1920s, following WWI, the United States possessed a large surplus of mass-produced naval merchant vessels. These ships, however, were older, slower, smaller, and already obsolete compared to modern merchant vessels of foreign competitors. Combined with operating, labor and fuel costs, the US merchant marine was at a disadvantage when competing with foreign flag merchant vessels. Furthermore, American legislation limited the maritime industry’s to engage in price competition. Due to the postwar economic decline, cargo for the world’s merchant marines became scarce. Soon, in the summer of 1921, thirty-five percent and eventually 70 percent of Shipping Board vessels were idle. This crisis also affected Great Britain, Japan, and other nations
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This note was uploaded on 04/30/2008 for the course PHY 120 taught by Professor Chensinski during the Spring '08 term at Staten Island.

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essay2 - Following each World War, there was a great...

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