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Joseph Schumpeter Essay Topics & Paper Examples

Shipping Market Cycles

Comments of this sort appear time and again in shipping market commentaries and they make shipping investors sound short-sighted and incompetent as they scramble to over-order ships, triggering yet another recession. But appearances can be deceptive. Despite the industry‚Äôs apparent inability to learn from history, its performance in providing transport has been excellent (see Chapter 2). If we set aside the volatility, over the last century there has been an impressive reduction in shipping costs. In 1871 it cost $11.40 to ship a ton of coal from Wales in the United Kingdom to Singapore. 4 In the 1990s the average freight cost to ship a ton of coal from Brazil to Japan, a roughly similar distance, was still $9.30, both…

Lee Byung-Chull, founder of Samsung

In 1938 Lee founded the Samsung Trading Company which was the grounding stone of his soon-to-be empire. He was born 1910 in Uiryeong in Korea and his first attempt as an entrepreneur was in 1936 when he founded a rice mill which didn’t go very well. His second attempt, the Samsung Trading Company which traded with fruits, fish and vegetables was more successful. This is rather surprising under the conditions of firstly the Japanese rule, then the chaotic after-war time and the division of Korea into a Soviet and an American controlled part and finally the consequent Korean War, which took place from 1950 – 1953. But this is the crucial point of Lee Byung-Chull. He was a very strong…