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14
Jul
Introduction: The 1980s farm crisis marked a period of profound economic distress for American farmers. The collapse of crop prices and dwindling farm income during this era can be attributed to several interrelated factors, leading to severe challenges for agricultural communities across the United States. Crop Surplus: Rapidly escalating food demand in the 1970s encouraged farmers to ramp up production. However, by the early 1980s, an oversupply of crops emerged, causing a sharp decline in prices. Staple crops like corn, wheat, and soybeans were particularly affected, exacerbating the crisis. High-Interest Rates: During the early 1980s, interest rates soared to unprecedented...