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Boom-bust and the Australian banks

Australia experienced an increasingly gigantic bubble in land prices during the 1880s and the beginning of the 1890s, and the city of Melbourne became bubble-central. Michael Cannon provides an excellent account of the period in The Land Boomers. Henry George’s...

East-West = Wasteful Infrastructure

Letter to the Editor The Age 03/10/2014 David Beardsell North Balwyn The 1880s in Victoria were largely driven by land speculation and the building of useless public and private infrastructure such as the Outer and Inner Circle railways, which ran from Oakleigh to...

Marvelous Melbourne, Magical Margins

    The weighted net annual rate of return on land investment in Melbourne 1880-92 was a remarkably high 34.6 per cent, peaking at 78.3 per cent in 1887, according to a fascinating paper researcher Philip Soos has unearthed Rates of Return on Melbourne Land...