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MJ Masi

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“Yet history tells us that a deep financial and economic crisis has never occurred without a prior agrarian crisis, which tends to last even after the financial crisis abates. Consider the great depression of the inter-war period: it started not in 1929 as the conventional dating would have it, but years earlier from 1924–25 when global primary product prices started steadily falling. The reasons for this, in turn, were tied up with the dislocation of production in the belligerent countries during the war of inter-imperialist rivalry, the First World War of 1914–18. With the sharp decline in agricultural output in war-torn Europe there was expansion in agricultural output elsewhere which, with European recovery after the war, meant over-production relative to the lagging growth of mass incomes and of demand in the countries concerned. The downward pressure on global agricultural prices was so severe and prolonged that it led to the trade balances of major producing countries going into the red.”

ColonialismImperialismGreat DepressionFinancial CrisisGlobal SouthAgrarian Crisis
Book:The Agrarian Question in the Neoliberal Era: Primitive Accumulation and the Peasantry
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“Above all, wealth was no longer to be flaunted. While an ostentatious displays of money might have been de rigueur in the Golden Twenties, it was decidedly out of fashion in the desperate days of the Destitute Thirties. The splashy parties the socialite once gave and attended in the twenties in New York and Palm Beach now dwindled to a trickle and were replaced with charity teas, and fund raisers.”

CharityGreat DepressionSocialitesRoaring TwentiesPalm Beach EntertainingFund RaisersGolden TwentiesNew York Entertaining
Book:American Empress: The Life and Times of Marjorie Merriweather Post
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