The Great Depression and the Fall of Cotton

The Great Depression and the Fall of Cotton - Thursday...

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The Long View: The supply had outstripped the demand Structural imbalance in the economy- weak demand and excess supply- early as 1922 Demand for cotton didn't keep up with the supply of cotton Farm problems Financial bubble and a weak demand and excess supply Farm problems Financial bubble and a weak banking system Role of gov't in causing the depression- taxes and lax regulation Short View: a downward spiral in much of the world- long unchecked by gov't or business Understanding Causation Price of cotton and the growth of tenancy Cotton Holiday- not farming cotton for a year to attempt to raise the price of cotton back up Became increasingly sophisticated through middleman cotton dealers Didn't care about the price they cared about the difference between the buy and sell price to increase their profits Cotton marketing Urban speculation and construction A few attempts to try and break this pattern by either a national policy change or by taking a cotton holiday
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