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Purchasing Power Parity
In the 1920s farmers demanded the [[McNary-Haugen Bill]], a panacea that would raise parity by having th government buy up surpluses at high prices and dumping them at low prices abroad. President [[Calvin Coolidge]] vetoed it. When parity fell very low in the early opart of the [[Great Depression]], American farmers were devastated. In the 1930s the [[New Deal]]'s [[AAA]] program sought to reach parity by reducing the volume of output. The AAA split the conservatives--those in rural America applauded and those in urban America opposed it. By 1938 a bipartisan compromise had been reached that continued into the 1950s.
In the 1920s farmers demanded the [[McNary-Haugen Bill]], a panacea that would raise parity by having th government buy up surpluses at high prices and dumping them at low prices abroad. President [[Calvin Coolidge]] vetoed it. When parity fell very low in the early opart of the [[Great Depression]], American farmers were devastated. In the 1930s the [[New Deal]]'s [[AAA]] program sought to reach parity by reducing the volume of output. The AAA split the conservatives--those in rural America applauded and those in urban America opposed it. By 1938 a bipartisan compromise had been reached that continued into the 1950s.
The term "[[Purchasing Power Parity]]" is a statistical method used to make comparable measurements of the economies of different countries.
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