The SHTA, by restricting imports, sought to increase capacity utilization rates in industries finding themselves with unused excess capacity.
Thus, while the apparent cause was the failure of the SHTA to deliver, the true underlying cause was the presence of electrification-based excess capacity in a number of manufacturing industries.
the rates in the Fordney-McCumber Tariff Act of 1922) to the now-lowered rates in the SHTA.
These results suggest an alternative narrative regarding the role of the SHTA in the Stock Market Crash and the Great Depression.
As we have attempted to show in this paper, it was not the SHTA per se that provoked the Stock Market Crash and the massive decrease in investment expenditure which ensued, but rather the SHTA against the backdrop of electrification-based excess capacity in the manufacturing sector.
Therein lies the clincher: it was not trade or the volume of trade that was an issue, but rather the ability of the SHTA to deliver more of the domestic market to excess capacity-carrying manufacturing firms.
SHTA membership is formed of different types and sizes of properties and with this agreement, everyone will benefit.
The agreement was signed on 1 March by Roy Kinnear, Chief Executive Officer Air Seychelles and Sybille Cardon, Chief Executive Officer SHTA, in presence of Air Seychelles and SHTA members of the Senior Management.