A Reexamination of Lebergott's Paradox About Blockade Running During the American Civil War
成果类型：
Article
署名作者：
Hetherington, Bruce W.; Kower, Peter J.
刊物名称：
JOURNAL OF ECONOMIC HISTORY
ISSN/ISSBN：
0022-0507
DOI：
10.1017/S0022050709000874
发表日期：
2009
页码：
528-532
关键词：
摘要：
In his seminal study on the economics of blockade running during the Civil War, Stanley Lebergott raised the paradoxical question, If smuggling yielded spectacular profit rates, why did so few successful investors try a second time?(1) Using Marcus Price's data on thousands of shipping runs, Lebergott estimated that fewer than(2) ten percent of the runners made more than a single trip through the blockade. Employing the same data used by Lebergott, we find startlingly different results.(3)