What T. R. Took: The Economic Impact of the Panama Canal, 1903–1937
Published online by Cambridge University Press: 01 September 2008
The Panama Canal was one of the largest public investments of its time. In the first decade of its operation, the canal produced significant social returns for the United States. Most of these returns were due to the transportation of petroleum from California to the East Coast. The United States also succeeded in leveraging the threat of military force to obtain a much better deal from the Panamanian government than it could have negotiated otherwise.
“I took the Isthmus.” President Theodore Roosevelt, 1904
“Why, it's ours, we stole it fair and square.” Senator Samuel Hayakawa, 1977
- The Journal of Economic History , Volume 68 , Issue 3 , September 2008 , pp. 686 - 721
- Copyright © The Economic History Association 2008