Free Ships: The Restoration of the American Carrying Trade

The author traces the decline of the national overseas carrying trade to protectionist navigation laws and congressional neglect, arguing that shipbuilding interests have captured policy and that subsidies and restrictions have perversely favored foreign shipowners. He critiques past legislation born of political compromise, shows how attempts to prop up domestic shipbuilding misdiagnosed the problem, and contrasts the nation's stubborn preservation of restrictive practices with other countries' moves toward freer trade. He urges repeal of prohibitive laws and removal of bounties and barriers as the means to revive an American mercantile marine.