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Tag: economics

The Secretary of Agriculture’s Response to the Great Depression

The Secretary of Agriculture’s Response to the Great Depression

The 1930s were a tumultuous time, not just for farmers, but for the entire world. The world’s economy collapsed into an economic depression that shaped an entire generation. The harshness of scarcity became very real. Naturally, people grew desperate and needed to make substantial changes. Many farmers were forced to look for other work. The number of tractor manufactures skyrocketed in the 1910s and 1920s, but only a handful of companies survived the collapse in the 1930s. In such desperate…

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The Best Way to Maximize Profit

The Best Way to Maximize Profit

The economics of agriculture, or any sector of the economy, are actually quite simple at their core. A product is produced and someone needs to be willing to purchase that product. What is the key to maximum profit? Connecting the product to the consumer in as few steps as possible. The process of getting the product to the consumer can be a very complicated process and every step of the way incurs a cost upon the farmer and ultimately their…

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