Economy
Over the centuries the island changed hands many times. Trading links with northern Europe are reflected in Fair Isle Haa, a traditional Hanseatic trading booth located not far from the South Harbour traditionally used by residents of the southern part of the island. But rent was paid to absentee landlords (who rarely visited) in butter, cloth and fish oil.
Fishing has always been an important industry for the island. In 1702, the Dutch, who were interested in Shetland's herring fisheries, fought a naval battle against the French warships just off the island.
Fair Isle is also famous for its woollen jumpers, with knitting forming an important source of income for the women of the islands. The principal activity for the male islanders is crofting. In January 2004, Fair Isle was granted Fairtrade Island status.
Read more about this topic: Fair Isle
Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)