Economics 353 Lecture 10_1

Economics 353 Lecture 10_1 - Eco 353 Lecture 10 Public Land...

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Eco 353 Lecture 10 Public Land Policy
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Stock Market News Dow Jones Industrial Average Down around 177 points or 1.7 %. Worries about unemployment, weak durable goods orders, and the Euro are weighing stocks down.
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Greece FED is investigating Goldman Sachs role in Greek financial fudging. The Euro is falling in value relative to the dollar mainly on worries about Greece. Greece will issue a 10 year bond next week and the financial community will be monitoring how well it does.
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Greece Many European banks are hedging their Exposure to Greek government debt by buying credit default swaps (CDSs). The CDSs played a role in the recent financial meltdown. Greece has been paralyzed recently by strikes against the government’s austerity measures.
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1783 – Treaty of Paris US included land south of Canada, east of the Mississippi, and north of Florida. West of the Appalachian Mountains there were few European settlers. Most of this smaller US was very sparely settled.
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1860 On the eve of the Civil War, ¼ of the nation’s population was in the Midwest. The West Coast was booming, in part because of the gold rush. Not only was the US population growing rapidly in numbers, it was spreading out rapidly. New land resources were quickly beings made productive.
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Land distribution The best way to distribute land is a question of mechanism design. We have to ask: What are the government’s interests and what are the political and economic interests of other groups who have an interest in land distribution.
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Growth of US Territory Original colonies Louisiana Purchase 1803
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