Flags of Convenience and Global Capitalism Author Van Fossen, Anthony Published 2016 Journal Title International Critical Thought Version Accepted Manuscript (AM) DOI https://doi.org/10.1080/21598282.2016.1198001 Copyright Statement © 2016 Taylor & Francis (Routledge). This is an Accepted Manuscript of an article published by Taylor & Francis in International Critical Thought on 20 Jul 2016, available online: https:// www.tandfonline.com/doi/10.1080/21598282.2016.1198001 Downloaded from http://hdl.handle.net/10072/99637 Griffith Research Online https://research-repository.griffith.edu.au This paper appeared in International Critical Thought 6(3): 359-377 (2016) Flags of Convenience and Global Capitalism By Anthony van Fossen Anthony van Fossen Email:
[email protected] Affiliation: School of Humanities, Languages and Social Science, Griffith University, Brisbane, Australia Mailing Address: School of Humanities, Languages, and Social Science Macrossan Building Griffith University Nathan, Queensland 4111 Australia 1 Flags of Convenience and Global Capitalism∗1 Anthony van Fossen School of Humanities, Languages and Social Science, Griffith University, Brisbane, Australia ABSTRACT The flags of convenience (FOC) shipping system promotes laissez-faire global capitalist development and has become dominant in providing the legal framework for ocean commerce in recent decades, as it has largely replaced the national flag shipping system. FOCs reduce the powers of nation-states in taxing, owning, and regulating property; controlling competition; setting wage rates and working conditions; and providing environmental protection. The growing use of FOCs arises from shipowners’ world-wide shopping for laws that they are willing to pay for—to ensure the strongest private property rights and neoliberal capitalist conceptions of efficiency.