Our current president prides himself on being the master of the deal. The upcoming summit with North Korean dictator Kim Jong Un will certainly put his bargaining skills to the test.
The stakes couldn’t be higher, since they involve the security of one of the most populous and economically vital regions in the world, and North Korea has shown little regard for agreements in the past.
If President Donald Trump successfully forges a deal that denuclearizes the Korean Peninsula, it will go down as one of the greatest deals in American history. With that said, it’s fair to ask whether history provides any lessons in the art of presidential negotiation.
Of course, historical situations differ vastly, but it’s still fair to ask whether historical examples can provide any guidance for the general principles of high-stakes negotiation.
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Perhaps there is no better place to look than what has been described as the greatest bargain in American history—the Louisiana Purchase. The deal was struck exactly 215 years ago this Monday.
In the words of historian Henry Adams, the purchase was “next in historical importance to the Declaration of Independence and the adoption of the Constitution. It was unparalleled in diplomacy because it cost almost nothing.”
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