An American purchase of Greenland could be the deal of the century

A lthough America has a history of taking a commercial approach to international relations, purchases are rarely made without controversy. When Thomas Jefferson bought Louisiana in 1803, doubling the size of the country, he had to set aside his zest for constitutional constructivism, which would have ruled out such bold federal action. Sixty-four years later, when William Seward, then secretary of state, purchased Alaska from Russia for $7. 2m ($162m today), the move was dubbed “Seward’s folly”. Today the Alaska deal is seen as a masterstroke and the Louisiana purchase the greatest achievement of one of America’s greatest presidents. In hindsight, both look extraordinarily good value.

Authorities have responded by bossing around investors

Production slowdowns, more imports and pricier housing could follow

A new book by Byrne Hobart and Tobias Huber argues there are advantages to financial mania

He will face challenges from both America firsters and conservative mainstreamers

Shareholders are over the moon; bondholders are readying the whip hand

Policymakers at home and abroad are anxious about offshoring

https://www.economist.com/finance-and-economics/2025/01/08/an-american-purchase-of-greenland-could-be-the-deal-of-the-century

A source: www.economist.com/finance-and-economics/2025/01/08/an-american-purchase-of-greenland-could-be-the-deal-of-the-century