The works of the roots of the vines, of the trees, must be destroyed to keep up the price, and this is the saddest, bitterest thing of all. Carloads of oranges dumped on the ground. The people came for miles to take the fruit, but this could not be. How would they buy oranges at twenty cents a dozen if they could drive out and pick them up? And men with hoses squirt kerosene on the oranges, and they are angry at the crime, angry at the people who have come to take the fruit. A million people hungry, needing the fruit- and kerosene sprayed over the golden mountains. And the smell of rot fills the country. Burn coffee for fuel in the ships. Burn corn to keep warm, it makes a hot fire. Dump potatoes in the rivers and place guards along the banks to keep the hungry people from fishing them out. Slaughter the pigs and bury them, and let the putrescence drip down into the earth.
There is a crime here that goes beyond denunciation. There is a sorrow here that weeping cannot symbolize. There is a failure here that topples all our success. The fertile earth, the straight tree rows, the sturdy trunks, and the ripe fruit. And children dying of pellagra must die because a profit cannot be taken from an orange. And coroners must fill in the certificate- died of malnutrition- because the food must rot, must be forced to rot. The people come with nets to fish for potatoes in the river, and the guards hold them back; they come in rattling cars to get the dumped oranges, but the kerosene is sprayed. And they stand still and watch the potatoes float by, listen to the screaming pigs being killed in a ditch and covered with quick-lime, watch the mountains of oranges slop down to a putrefying ooze; and in the eyes of the people there is the failure; and in the eyes of the hungry there is a growing wrath. In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage.
For those who might not understand the problem: deflation in combination with sticky prices makes it look like there is a glut of products for the supplier. Deflation also makes it harder to earn an income from work rather than sitting on your money, making it harder to buy foods.
Deflation is an opportunity cost to running a business. If you can earn x% from sitting on your money, then any business activity must earn more than x% before you consider the investment. The easiest way to raise the return on investment to match the opportunity cost is to sell at a higher price, but remember, you have deflation, so you can't pass on the cost to the consumers. Supply must shrink until the price is high enough to justify production again.
Reducing the supply of products also shrinks the demand for labor that is used in the production process, leading to more unemployment with sticky prices or reduced income with flexible prices. Reduced income means people have less money to buy products, which means producers see a lack of demand and reduce production even further. The downward spiral feeds itself.
Deflation is bad because it has acute symptoms. Inflation is the least bad option, because it's a manageable slow burn. Of course with acute symptoms you will see more action towards fixing the problem, whereas with a slow burn humans tend to drag it along forever.
No, it isn't. The book was written during the Great Depression. We're not in the Great Depression now. Pretty much nobody nobody is dying of malnutrition in the US and nobody is dying of pellagra specifically, because we've invented fortifying food with vitamins.
But the big difference is that the peach trees are being destroyed because nobody wants the peaches. That's the exact opposite of the quote, in which there are starving people clamoring for the food and the food is being destroyed to raise the price.
> To be sure, we wouldn’t yet call it commonplace. But while it accounts for fewer than 1 in 100 deaths, its toll is rising so fast that it’s now in the same league as arterial disease, mental disorders and deaths from assault.
Am I reading the charts correctly that 20% of under-54s have "marginal, low or very low food security" with it being over 30% of under-14s? If so, focusing only on deaths is missing a huge part of this.
That looks right to me. Of course, the definition of food security can be disputed, but it seems like improving people's diets or access to quality food should be a priority.
> The source we used, a supplement to the Census Bureau’s Current Population Survey, has been canceled by the Agriculture Department. The upcoming release could be the last.
You can also tell it to periodically summarize the "lessons learned" from the recent session(s)
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