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4 results

  • The “American Century” Implemented: Stettinius and the Liberian Flag of Convenience*

  • Rodney Carlisle
  • Journal:
    Business History Review / Volume 54 / Issue 2 / Summer 1980
    Published online by Cambridge University Press:
    11 June 2012, pp. 175-191
    Print publication:
    Summer 1980

  • Students of the efforts of western maritime nations to improve conditions aboard their merchant ships, and to tighten regulations in general, are aware that one result was the emergence of the “flag of convenience,” whereunder a nation exploits the need of operators for a haven from high standards. One such nation was Panama, but by the end of World War II its officials had come to demand such private tribute that a new flag of convenience was needed. Providing such a registry under the flag of Liberia became a major service of the development company formed by former U. S. Secretary of State Edward R. Stettinius, Jr., in the late 1940s.