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