The Equity Effects of Public Land Speculation in Iowa: Large versus Small Speculators

Robert P. Swierenga

The Journal of Economic History, 1974, vol. 34, issue 4, 1008-1020

Abstract: The economic impact of American public land policies in the nineteenth century can be assessed either in terms of their efficiency or equity effects, that is, their impact on national growth rates or on income distribution. Robert W. Fogel and Jack Rutner recently explored the growth question and discovered that federal land policy had a positive but minimal effect on economic growth in the mid-nineteenth century. This suggests that the equity question is perhaps more important than the efficiency issue, a point made several years earlier by Douglass C. North.

Date: 1974
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