Word: glut
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Dates: during 1970-1979
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...soil. Large landowners who mechanize their holdings force peasants off the land, creating a new army of unemployed on the edges of cities. Agricultural speculators buy up the land of small farmers to plant crops they think will receive high prices the next season; when there is a glut, they stop planting. Only changes in the land tenure system, the authors argue, will feed the hungry...
...their effort to persuade their readers. In Mexico, land that once grew corn for peasants' diets is now used for strawberries and flowers for the U.S. while the people there starve. In Senegal, California-based Bud Antle grows vegetables for the European market; in 1974, when there was a glut in Europe, the company destroyed an entire crop of green beans, because the Senegalese peasants are not familiar with the vegetable and don't eat it--and because they could not afford Bud Antle's prices. Despite huge increases in the per capita production of beef in Central America...
Pangs of Plenty. The biggest headache for farmers is the growing glut of wheat. Last week the Agriculture Department forecast that despite last winter's drought and destructive winds, this year's winter wheat crop would come to 1.53 billion bu., only about 3% less than last year's mammoth harvest. The total crop, including spring wheat (harvested in the fall), is expected to be about 2 billion bu. That would be slightly less than the record 2.15 billion bu. crop in 1976-but still more than U.S. and foreign buyers combined are likely...
...ceiling insulation, but much of the country's existing housing stock lacks proper protection. That may make it difficult for newhouse buyers to get rid of their old ones. Although it picked up last month, multifamily construction has been slack as the market continues to absorb a glut of new building of that type completed during the early 1970s...
...chart after chart in his book, he cites the sudden surge in the Seven Sisters' profits. Blair also charges that the big companies actually helped prop up the OPEC price by cutting back on production at times, most notably in the fall of 1975, when an oil glut was causing price weakness in Western Europe...