Parity Formula to Fix Prices

Charles Shuman>UIS Collection S>UIS Collection S, Segment 15

Parity Formula to Fix Prices,

duration 01:17
Explanation of the parity formula. Economists figured out what farm prices were from 1910-1914 and called that 100 per cent. Then they analyzed other years compared to that base. Earl Smith (President of Farm Bureau) had faith in parity, but we now know it is not a realistic tool to fix prices.