Not guilty? Agriculture in the 1920s and the Great Depression

Giovanni Federico

    Research output: Contribution to journalArticle

    Abstract

    Agricultural distress in the 1920s is routinely quoted among the causes of the Great Depression. This article challenges the conventional wisdom. World agriculture was not plagued by overproduction and falling terms of trade. The indebtedness of American farmers, a legacy of the boom years 1918-1921, did jeopardize the rural banks, but the relation between their crises, the banking panic of 1930, and the Great Depression is tenuous at best.

    Original languageEnglish (US)
    Pages (from-to)949-976
    Number of pages28
    JournalJournal of Economic History
    Volume65
    Issue number4
    DOIs
    StatePublished - Dec 1 2005

    Fingerprint

    Agriculture
    1920s
    Great Depression
    Farmers
    Panic
    Conventional
    Indebtedness
    Banking
    Boom
    Wisdom
    Causes
    Distress
    Terms of trade
    Overproduction
    Banking panics

    ASJC Scopus subject areas

    • History
    • Economics and Econometrics
    • Economics, Econometrics and Finance (miscellaneous)

    Cite this

    Not guilty? Agriculture in the 1920s and the Great Depression. / Federico, Giovanni.

    In: Journal of Economic History, Vol. 65, No. 4, 01.12.2005, p. 949-976.

    Research output: Contribution to journalArticle

    Federico, Giovanni. / Not guilty? Agriculture in the 1920s and the Great Depression. In: Journal of Economic History. 2005 ; Vol. 65, No. 4. pp. 949-976.
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