Hostname: page-component-78c5997874-v9fdk Total loading time: 0 Render date: 2024-11-04T19:22:39.991Z Has data issue: false hasContentIssue false

Navigation and Economics in the Air

Published online by Cambridge University Press:  01 January 1969

J. E. D. Williams
Affiliation:
(Bronze Medallist 1958)

Extract

‘Navigation demonstrateth how, by the shortest good way, by the aptest direction, and in the shortest time a sufficient ship between any two places may be conducted.’ To our Elizabethan forebears it was evident that the best way to conduct a ship was by the shortest passage of time which engendered least risk of catastrophe and avoided excessive wear and tear on ship, equipment and possibly passengers and crew. In the age of value-engineering and cost-effectiveness we are required to quantify these conflicting criteria. This is a matter of economics, which is concerned with applying the finite resources of mankind to the satisfaction of its infinite wants.

Type
Research Article
Copyright
Copyright © The Royal Institute of Navigation 1969

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)