The Trouble with Networks. Managing the Scots' Early-Modern Madeira Trade (Hancock)Justyna Wubs-Mrozewicz
Management of long-distance trade often led to complex networks and with them, unique challenges for the individuals involved. Today’s choice for #RetroConflictsInspirations is a study of Scottish networks in the early-modern Atlantic build around the export of Madeira wine.
In his 2005 article 'The Trouble with Networks. Managing the Scots' Early-Modern Madeira Trade', David J. Hancock turns our attention to a part of network literature that had, until then, been neglected: 'the troubles networks created for members'. Revisiting this critical approach underlines the double-edged sword of trade networks. The Madeira trade networks were solutions to familiar premodern problems of distance, transportation and communication. Here, we find recurring themes from our #microreviews: reputation, trust and reciprocal relationships. Specifically, the focus on network 'memory' and reputation in this study deserves further attention. A trader’s reputation (e.g., his connections or trustworthiness) could be the key to unlocking more opportunities, but failure/mismanagement of his network led to sanctions and exclusion. Network memory could also fail or provide incorrect assessments, leading traders to agreements with partners turned out to be ‘a bad investment’. Maintaining the advantages of networks required careful & continuous management; any failure led to new challenges to overcome.