New Deal Regulation and Farm Productivity

Paper Summary:

This paper explains how the New Deal eliminated earlier concerns and conflicts between safety and productivity. The author states that this article recognizes the roles of the Civilian Conservation Corps (CCC) and the Farm Credit Administration (FCA) in the farmers' investment strategy and that the economic impact of government regulation interfered with market forces in ways that did not always benefit the economy of the country. The paper concludes, in terms of history, that the article shows that the past needs to be taken into account for both its successes and its failures, if things are to move forward in a significant way.

From the Paper:

"Clarke makes several points to advance her argument. Firstly, she points out that high sales figures for tractors starting in World War I may be misleading, as they do not focus on the farmers who might potentially have bought tractors and did not. When calculating the relative number of farmers potentially benefiting from purchasing tractors, Clarke finds that fewer farmers in the Corn Belt than expected owned tractors in 1929. This advances the argument that economic factors led to reluctance to invest in new technology during this time. The author further reinforces the point by citing the farmers' tendency to protect assets due to the instability of commodity markets."

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