Question

In: Economics

Explain why the squatters at the same time were instrumental for early prosperity in Australia but...

Explain why the squatters at the same time were instrumental for early prosperity in Australia but later on became a danger.

Solutions

Expert Solution

Squatters were individuals who occupied crown land and held no legal rights or right to be on the ground. In general, squatters were emancipists or colonists who were born in natve. There was only farming before squatters, so people could only have enough to support themselves and survive. At this time, the colonies were heavily dependent on British subsidies. Heavily pursued to minimize dependence on British assistance was a staple commodity that could betray between colonies. Early colonies were scarce labor and capital, and land was also a scarce resource without the discovery of adequate farmland.

Squatters were individuals who occupied crown land and held no legal rights or right to be on the ground. In general, squatters were emancipists or colonists who were born in natve. There was only farming before squatters, so people could only have enough to support themselves and survive. At this time, the colonies were heavily dependent on British subsidies. Heavily pursued a, er to minimize dependence on British assistance was a staple commodity that could betray between colonies. Early colonies were scarce labor and capital, and land was also a scarce resource without the discovery of adequate farmland.

Structures such as houses and fences were not installed, as it was considered unnecessary as a waste of capital if the crown land was moved o3. The only structures that were set up were wooden stables that would gather the sheep at night. Despite success in the industry, squattng was still illegal. Because of their economic strength, squatters greatly dominated the political system and wanted to maintain land rights and prisoner transportatioon for their cheap labour. Squatters were the upper class of society and opponents were afraid of a 'squattocracy'—the wealthy elite that monopolized the land and dominated the economy and society. To counter this, land policies were introduced, and under certain conditions, squatters were able to buy and own land, such as a maximum amount every couple of years. (320 acres) (5 years).

Had squatters acquired the land without limitation, the economic history of Australia would have looked very different with an unequal distribution of wealth


Related Solutions

The 1920s was a decade of prosperity & poverty at the same time which resulted in...
The 1920s was a decade of prosperity & poverty at the same time which resulted in the Great Depression. You should discuss what factors & issues accounted for the veneer of prosperity, why didn’t that prosperity extend to all, and how this economy collapsed and began the Great Depression.
1. Explain clearly why it is possible that, for the same firm, for the same time...
1. Explain clearly why it is possible that, for the same firm, for the same time period: (a) Sales may rise but net income fall. (b) Net Income may rise but cash flow fall. (c ) Net income may rise but stock price fall. (d) Dividends rise but stock return fall.
Explain why Maimonides’ rule is a good instrumental variable for class size. Without such an instrumental...
Explain why Maimonides’ rule is a good instrumental variable for class size. Without such an instrumental variable, if we regress pupil performance on class size with ordinary least squares, give one reason why the effect of class size may be underestimated and one reason why it may be overestimated. Can you think of another good instrumental variable for class size?
An investor would not choose to exercise early and at the same time put and call...
An investor would not choose to exercise early and at the same time put and call options with the same exercise price. Is this true or false? Give your explanation.
Explain why there is a straight line offset at the early time stage when analyzing aquifer...
Explain why there is a straight line offset at the early time stage when analyzing aquifer test data using Cooper-Jacob straight line technique? Do pumping tests represent aquifers heterogeneity?
What were the promises and limits of prosperity in the 1920s?
What were the promises and limits of prosperity in the 1920s?
1. Discuss different models for DNA replication that were considered by early researchers. Explain why the...
1. Discuss different models for DNA replication that were considered by early researchers. Explain why the current model for DNA replication was accepted following experiments by Meselson and Stahl. Describe this model in detail and interpret the significance of helicases, gyrases, RNA primer, DNA polymerase, Okazaki fragments, and DNA ligase.
How and why has the original purposes ( promoting interstate commercial prosperity/ trade, establish a full-time...
How and why has the original purposes ( promoting interstate commercial prosperity/ trade, establish a full-time army and to stop tyranny) of American government changed?
what are some examples of early HMO protypes? why were they developed
what are some examples of early HMO protypes? why were they developed
Explain how Mudaraba application would enhance economic prosperity for everybody and why its application by Islamic...
Explain how Mudaraba application would enhance economic prosperity for everybody and why its application by Islamic banks is minimal
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT