who was the director of the agricultural adjustment act
Agricultural Adjustment Act When President Franklin D. Roosevelt took office in March 1933, the United States was in the midst of the Great Depression.[8] "Farmers faced the most severe economic situation and lowest agricultural prices since the 1890s."[8] "Overproduction and a shrinking international market had driven down agricultural prices."[9] Soon after his inauguration, Roosevelt called the Hundred Days Congress into session to address the crumbling economy.[9] From this Congress came the Agricultural Adjustment Administration to replace the Federal Farm Board. The Roosevelt Administration was tasked with decreasing agricultural surpluses.[9] Wheat, cotton, field corn, hogs, rice, tobacco, and milk and its products were designated as basic commodities in the original legislation. Subsequent amendments in 1934 and 1935 expanded the list of basic commodities to include rye, flax, barley, grain sorghum, cattle, peanuts, sugar beets, sugar cane, and potatoes.[10] The administration targeted these commodities for the following reasons:
Structural adjustment Structural adjustment programmes (SAPs) consist of loans provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experienced economic crises.[1] The two Bretton Woods Institutions require borrowing countries to implement certain policies in order to obtain new loans (or to lower interest rates on existing ones). The conditionality clauses attached to the loans have been criticized because of their effects on the social sector.[1]