An Inquiry into the Nature and Causes of the Wealth of Nations from Shipping: The Paradigm of Greece—Part I, from Origin to 1950

Abstract

Greeks were sailors, shipowners and merchants for 10,000 continuous years. They created a strong navy of 1186 ships in 2000 BC. The navy enabled Greeks to create over 100 colonies in the Mediterranean, including the conquest of Troy and the defeat of the Persians in 480 BC at Salamis. The tradition has been maintained over more than 165 generations, even at times when Greece was occupied by the Romans and the Ottomans. The reasons for this long-standing tradition are examined. Even today, in 2022, Greek-owned shipping leads many glorious shipping nations such as Japan, China and UK. The reasons for this tradition can be found in the economy of Greece, the geography of Greece as an archipelago, and the international and mobile character of the Greek people. Greek shipowners were open to innovation, but with a certain delay in the particular introduction of steam, and faster in establishing offices in other countries where business could be conducted. In addition, the Greek state saw shipping as “the chicken producing the golden eggs” and asked at in wrong time for buying ships.