Titlebook: Inflation Decade, 1910—1920; Americans Confront t David I. Macleod Book 2024 The Editor(s) (if applicable) and The Author(s), under exclusi

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gruelling

acheon

Regurgitation

Ingredient

One Commodity at a Time: Wartime Attempts to Restrain Prices and Profiteering,ress sermonized: “The law of supply and demand, I am sorry to say, has been replaced by the law of unrestrained selfishness. While we have eliminated profiteering in several branches of industry it still runs impudently rampant in others.”

混雜人

Getting By: Earners Confront Changing Real Incomes,stic product dipped slightly in 1917 and peaked in 1918 just 3.7 percent above 1916. This modest growth and more was consumed by war costs—approximately 11.5 percent of total GDP in 1917 and 23.9 percent in 1918.

Harridan

,Postwar: Brief Respite and Resurgent High Cost of Living, 1919–1920,elative income losses continued through 1919 and into 1920. Many farmers had enhanced real incomes, but their spokesmen charged that still larger gains had been forfeited to government measures or the exactions of food processors and middlemen.

小故事

,Confronting High Prices: Pursuing Profiteering and Systemic Causes, 1919–1920,nstead on profiteering that boosted the prices of individual products and thus the cost of living rather than on inflation as an economy-wide phenomenon. Besides, even commentators who condemned monetary inflation feared that deflation would cause economic distress.

Parallel

Introduction,ered on food, became a political issue and fostered a plethora of diagnoses and remedies. Meanwhile, farmers’ spokesmen celebrated higher commodity prices and decried city dwellers’ desire for cheaper food. Then World War I brought severe inflation by 1916 that lasted into the autumn of 1920. Consumer prices eventually more than doubled.

aggravate

,Prices Begin a Slow Rise, 1897–1909, 1909 wholesale prices surged 47 percent. Consumer prices rose 13 percent from 1897 through 1907, dipped to a mere 9 percent increase by 1909, and then jumped to 14 percent above 1897 in 1910. Reflecting the slower growth of consumer prices, public concern about rising prices in the US was real but sporadic until 1910.