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Economic Crisis and Political Response: The Political Economy of the Shipping Act of 1916

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  • Sicotte, Richard

Abstract

Governments often respond to crisis situations with radical economic policies. The Shipping Act of 1916 created a government-owned shipping company. This significant departure from prior policy arose in the atmosphere of crisis surrounding the war in Europe. The Wilson Administration was able to use political institutions to its advantage and ensure that alternative, more moderate proposals would not be considered by the legislature. Initially thwarted by a filibuster, the administration was forced to compromise in order to maintain party loyalty and pass the bill in 1916.

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  • Sicotte, Richard, 1999. "Economic Crisis and Political Response: The Political Economy of the Shipping Act of 1916," The Journal of Economic History, Cambridge University Press, vol. 59(4), pages 861-884, December.
    • Handle: RePEc:cup:jechis:v:59:y:1999:i:04:p:861-884_02
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    Cited by:

    1. George Deltas & Richard Sicotte, 2017. "Cartel Organization, Price Discrimination, and Selection of Transatlantic Migrants: 1899–1911," Southern Economic Journal, John Wiley & Sons, vol. 83(3), pages 668-704, January.

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