More on the Great Depression

The Great Depression was caused when the heritage United States ended.

I wrote about one of the causes of the Great Depression, the displacement of farmers, a few weeks ago.

Another, and perhaps the biggest factor was the closing of the frontier.

America wasn’t great because of the Constitution, the Declaration, Abe Lincoln, or any of that.  It was not a great proposition.  It was great because the heritage Americans were hard as nails and were instantly capitalized by simply walking westward.

In other words, by moving west, a young person could instantly have land for FREE.  No need to save up.  No need to go in debt.  Just walk west.

The ROI on a farming operation started on FREE LAND is INFINITY.  This fueled economic growth like the world has never seen.

Settlers improved the land and made it more productive, creating value with every stump they pulled, well they dug, and fruit tree they planted.  Money almost leapt from the ground when manured with the brains and work of those settlers.

When all the arable land was settled economic growth plummeted in that sector.  Economists and historians ignore this fact, otherwise they would not be able to justify their opinions on immigration.

Instead, they attribute the economic boom in the US to industrialization, which needed the Ellis Island people.

Other nations, Britain for example, experienced massive economic growth at that time as well.  This is also attributed to mechanical industrialization.  What is ignored is the nearly free land available to some Englishmen in Australia, New Zealand, India, Suriname, Barbados, the Bahamas, the Boer republics, and more.

Portugal, Belgium, Germany, the Netherlands, Spain, France, and others benefited from the same free land obtained during the colonial era.

America was fueled by free land and hard work.  When the free land went away capital had to come form somewhere else, namely savings.

The savings weren’t there in ‘29.   Yahtzee.

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