Sunday, December 26, 2010
Focus for the 'supply response' paper
I have only just been able to work out a suitable 'motivation' for our third paper, British agriculture from about 1870 onwards. We've been collecting all the data, county by county, but with no fixed purpose. I think I have it now: regional differences in response to the American 'grain invasion' of the late 1870s. In that period, the American railroads opened up and importing wheat became competitive. The price of grain fell dramatically and many farmers were ruined. The brighter farmers switched to livestock and used the cheaper grain as their input, making good profits. Not all regions adapted in the same way. Why? That is what we are going to find out.