Sunday, April 5, 2015

The Cicottes Invent Real Estate Investment

When the first Cicottes in New France were settling the frontier, the French Empire was trying unsuccessfully to build a feudal society there modeled after the one in the Old World.  The attempt failed for a number of reasons, but at least two have to do with land ownership: First, the colonization of America had an inflationary impact on the value of land, the primary asset of the wealthy and powerful in Europe.