The Economist: “Although 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.”
“History will not be as kind to Donald Trump if he gets Greenland from Denmark under duress. On January 7th the president-elect declined to rule out using military might or economic warfare in his pursuit of Greenland (and of the Panama Canal). America will lose friends if it bullies one into ceding territory. But Mr Trump’s provocations are also foolish because an agreement to buy Greenland, made freely and in good will, could indeed be another deal-of-the-century.”
