Word: marketed
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Dates: during 1960-1960
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...Swedish economist saw little possibility of imminent U.S. inflation, in part because prices in this country must be tied to the currently declining world price level. The next President "would soon be up against very obstinate problems" If he tried to ignore the foreign market, Jacobsson warnet...
When the demand tapered off after Korea, the government stepped in to buy up surplus, to guarantee stable prices, and, in general, to prevent a market crisis. Congress instituted the Soil Bank program to reduce the increasing surplus by paying the farmer to take land out of cultivation...
...agrees to take out of production. Under this program, no farmer would receive funds from the Federal government. Instead, for example, a wheat-grower will allow his land to lie fallow, receiving the equivalent amount of grain from the Federal storage bin. He would then sell this wheat at market prices...
While reducing the surplus, this program would also insure a stable income for the farmers concerned. When the storage bins reached the desired level, the GOP would institute a long term price support program based on market prices of immediately preceding crop years...
...more dramatic gesture to reduce surplus, both candidates have proposed to dump it on needy nations. Though undoubtedly benevolent, this idea is not so simple as it appears. Were the United States to distribute free wheat abroad, the international market would react like a man with dropsy...