“After WWII, US agricultural output exploded, due in large part to the massive influx of industrial chemicals like pesticides and fertilizers. The consumption of farm products, however, did not keep pace and immense surpluses quickly accrued. This talk explores the role that credit played in the creation of an agricultural system of high chemical input use and chronic surplus production. It examines how the expansion of public and private credit along with the creation of new financial technologies gave farmers the ability to pay for more and more chemicals despite falling crop prices caused by too much food.”
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