Business: Burnt Cocoa

Grown each year on the Gold Coast of Western Africa are enough beans for half the world's supply of cocoa—270,000 tons. The cocoa farms are run by native tribesmen, black as a tinker's pot and quick to catch on about the law of supply and demand. In 1930 it occurred to them to do something about prices. Cocoa was so low on world markets that working on the farm didn't seem worth their while. In a few months much West African cocoa land was jungle again, and the price of cocoa went up. In...

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