February 27, 2012

In 1820, the U.S. whaling industry was just a blip, generating about $1 million in revenue per year. Thirty years later, it had grown nearly 1,000%, making the U.S. the global leader in whaling. By 1900, U.S. whaling revenues had declined an astonishing 90%. What happened? The Mysterious Decline of the U.S. Whaling Industry? The rise…