There have been countless studies of the 1948 events which led to the creation of the state of Israel and the expulsion and dispossession of the Muslim and Christian inhabitants of Palestine; but none so far has dealt with the material and other losses of the Palestinians and given an estimation of their monetary value. This book presents, for the first time, an exhaustive evaluation of what the Palestinians lost. After a historical introduction describing Palestine under Ottoman and British rule, the author examines the central problem of land. He recounts the crucial events of 1947-49 and provides a critical assessment of the work of the UN Palestine Conciliation Commission. Finally, he makes his own careful economic assessment of Palestinian losses in 1948. The study is based on the official land records of the Palestine government and on the author's personal knowledge and twenty-two years experience in land matters.