The Alaska Purchase: Was it Folly?

When the US bought Alaska from the Russians in 1867, it may have been known as ‘Seward’s Folly’.  But conventional wisdom is that Alaska has proved that initial criticism wrong.  That the state’s great natural resource wealth has paid for the Seven-point-two million dollar purchase price many times over. Professor David Barker says “folly” may not be such a bad description, at least when you consider the pure economics
of the transaction.

Lori Townsend, APRN – Anchorage

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