Talk:Agricultural recession

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Economics

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Wiki Education Foundation-supported course assignment

This article is or was the subject of a Wiki Education Foundation-supported course assignment. Further details are available on the course page. Student editor(s): Jacob Rusnock.

Above undated message substituted from Template:Dashboard.wikiedu.org assignment by PrimeBOT (talk) 21:11, 16 January 2022 (UTC)[reply]

Plans to expand

Below is information I plan to include when I edit this article within the near future.

I also agree with Tim below that the name of this article should be edited to "farm crises".

Details (1920's)

Commonly believed to be onset by WWI
At the onset: High market supply, high prices, incomes were favorable (opinion), credit was available for producer and consumer
Fiscal policy continued inflationary policy
in June 1920, crop prices averaged 31 percent above 1919 and 121 percent above prewar prices of 1913
Farm land prices rose 40 percent from prewar 1913 to 1920
Crops of 1920 cost more to produce than any other year
Overall, agriculture moved forward until 1920
Price break began in July 1920
Farmers were squeezed between decreasing agricultural prices and steady industrial prices.
By 1933 Cotton was only 5.5 cents per pound instead of the 1909-1914 average of 12.4 cents per pound. Corn was down 64.2 cents to 19.4 cents per bushel. Hogs declined from $7.24 to $2.94.
see Dust Bowl

Reformation

Introduction of price floors by the Food Administration (during war times)
Attempts to form farmer's union
The Agricultural Marketing Act of 1929 intended to bring government aid to cooperatives. Allowed the Federal Farm Board to make loans and other assistance in hopes of stabilizing surplus and prices.
Agricultural Adjustment Act (AAA) aimed to bring back pre World War 1 Farmers' abilities to sell farm products for the same worth they were able to buy non-farm products. The Act involved seven different crops: corn, wheat, cotton, rice, peanuts, tobacco, and milk. Farmers were paid to not plant those seven crops, thus decreasing supply and returning to market equilibrium.
In order to prevent noncooperative farmers from taking advantage of other farmers decreasing supply the bill states "is to keep this noncooperation minority in line, or at least prevent it from doing harm to the majority, that the power of the Government has been marshaled behind the adjustment programs" In other words,the benefits from payments to cooperative farmers were designed to be more beneficial than being noncooperative and flooding the market.
AAA ultimately enacted on May 12th, 1933.
AAA deemed unconstitutional on January 6th, 1936.
Farm Credit Act of 1933 allowed farmers to re mortgage property
Other important legislature included Frazier–Lemke Farm Bankruptcy Act

A detailed list of sources can be found in my sandbox. (Unsigned)

Notability

While this phrase may be used, it is hardly notable. This is mere common language usage. If this were a list of specific "farm crises," it might survive a notability test. If it provided the history of the term "farm crisis," perhaps it might survive notability. But as it stands, the term "farm crisis" is nothing more than language, like "a drink of water" or "drove the car". - Tim1965 (talk) 20:41, 5 December 2009 (UTC)[reply]

I agree with Tim1965 above. However the reason I came onto Wikipedia was to find out the specific name of the crisis - which it did have. It was a unique name, like Hurricane Katrina was for New Orleans. I remember that John Mellencamp was regularly concerned about the crisis in the Midwest as were other performers such as It was not Farm Aid as Farm Aid was merely a way to raise money for the (...? Unsigned)

Move (change title?)

I found this page after looking for "American farm crisis", which I came across when reading a source for another article. As the article appears to be totally focused on the US, and the term appears to be rarely used apart from this (mostly about the 1980s), I suggest moving the page to American farm crisis (for which I have just created a redirect), US farm crisis, or Farm crisis in the US. Laterthanyouthink (talk) 05:27, 5 April 2021 (UTC)[reply]