Source: Foundation for Economic Education
by Alex Rosado
“The word Antarctica brings to mind images of desolation and glaciers, and may even give you goosebumps when thinking of its subzero temperatures. For one American company, the emptiness was an opportunity to bring banking and convenience to a continent once thought to be a buffer to the free market. In 1998, Wells Fargo installed two ATMs at McMurdo Station in Antarctica, an American-run base dedicated to land surveillance, climate research, and the natural sciences. The Station’s population fluctuates between 250 and 1,100 people, depending on the season. With no cities on the continent, the absence of permanent residents makes Antarctic economics a low-growth environment. At face level, having any economic service here sounds like a poor investment. However, the potential in the South Pole’s ATMs doesn’t lie in profit. It arises from observing how little is actually required to sustain a functioning community.” (05/11/26)