THE INSTITUTE OF MARKING AND MEASURING  
  PROJECTS ABOUT EPHEMERA  
       
   

At the heart of this issue are the dynamics of speculation. Eschewing traditional measures of fundamental value and focusing instead on the adaptability of price movements, the speculator enters into a pact with time, value, and uncertainty (disparity of knowledge). But what land speculators of early and mid 20th century America relied on, in addition, was a structural misfit between distance and proximity that was a hallmark of the geographical imaginary of America. In a territory that exists beyond the prevailing models of land use economics--from Ricardo's Law of Rent through von Thunen's Land equations, forward to the Chicago School's sociological maps--20th century land speculation requires an updated economic theory of the margin. That is, it requires a model where distance and transport costs factor as additive--rather than subtractive--variables in a calculus of speculative advantage. Here, the swamps of Florida and the desert of New Mexico are precisely those tracts with the coveted traits of isolation, remoteness, and inaccessibility.

Given under my Hand


 
 
 
 
 
 
 
 
 
 
    Panamerican Trust:
A Study in Speculation
   

Jesse Vogler

Collaborators
P.L.A.N.D.
Jim Walker, Husbandmen

Special Thanks
Erin Elder, PLAND
Nina Elder, PLAND
Nancy Zastudil, PLAND
Jason Romero, Bureau of Land Management
Nita Murphy, UNM Taos

Funding Support
Graham Foundation for the Fine Arts

Publication
Forty-Five: A Journal of Outside Research