lec_17_111B - ECN 111B: US Economic History since the ECN...

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Lecture 17:Agricultural Modernization Lecture 17:Agricultural Modernization ECN 111B: US Economic History since the ECN 111B: US Economic History since the Civil War Civil War Winter 2010 Winter 2010
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Lecture 17 Outline Lecture 17 Outline Productivity growth in agriculture Farmers’ Discontent Political populism as a response to economic pressures The legacy of farmer’s movements and populism
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KEY Readings for Today’s KEY Readings for Today’s Lecture Lecture Essential Reading: Atack and Passell, Ch. 15 Walton and Rockoff Ch. 15
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Composition of Output 1869 vs. 1899 Source: Rockoff and Walton 0 10 20 30 40 50 60 1869 1899 Year Agriculture Industry Mining
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Who produced what and why? Who produced what and why? The centers of production shifted over time There was a rush to mono-cropping in the South Farmers in the North diversified
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Wheat Corn
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Land vs labor productivity: Growth in output of agriculture was largely extensive Growth at roughly 2.5% per year Land yields hardly rose Total factor productivity grew at 0.6-0.7 % But! Labor productivity improved 2.6% average annual increase in 1870-1910 (corn and wheat) Versus 0.4% 1800-1860!!!! Farmers’ incomes rose very slowly 1860-1896
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This note was uploaded on 03/11/2010 for the course ECN ECN111b taught by Professor Meissner during the Winter '10 term at UC Davis.

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lec_17_111B - ECN 111B: US Economic History since the ECN...

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