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The U.S. government continued to instill inflationary policy following World War I. [1] By June 1920, crop prices averaged 31 percent above 1919 and 121 percent above prewar prices of 1913. Also, farm land prices rose 40 percent from 1913 to 1920. [2] Crops of 1920 cost more to produce than any other year.
The upheaval associated with the transition from a wartime to peacetime economy contributed to a depression in 1920 and 1921. The Depression of 1920–1921 was a sharp deflationary recession in the United States, United Kingdom and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. [1]
The doctrine of parity was used to justify agricultural price controls in the United States beginning in the 1920s. It was the belief that farming should be as profitable as it was between 1909 and 1914, an era of high food prices and farm prosperity. The doctrine sought to restore the "terms of trade" enjoyed by farmers in those years.
1920s: Culture Wars. As European economies recovered and the USA boomed in the wake of World War I, the number of Americans living in cities exceeded the number on farms for the first time.
During World War I prices shot up and farmers borrowed heavily to buy out their neighbors and expand their holdings. This gave them very high debts that made them vulnerable to the downturn in farm prices in 1920. Throughout the 1920s and down to 1934 low prices and high debt were major problems for farmers in all regions. [64]
The year 1920 was the single most deflationary year in American history; production, however, did not fall as much as might be expected from the deflation. GNP may have declined between 2.5 and 7 percent, even as wholesale prices declined by 36.8%. [32] The economy had a strong recovery following the recession. [33] 1923–1924 recession
Pages in category "1920 in economic history" The following 4 pages are in this category, out of 4 total. This list may not reflect recent changes. D.
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