How did bonanza farms make it difficult for small farmers to compete in the late 19th century

Bonanza farms were large, mechanized farms that were owned by wealthy capitalists and were able to leverage their resources to outcompete smaller farms. This meant that small farmers had much less access to capital and resources, making it difficult to compete with the bonanza farms.

Explanation

The answer given above is important because it shows how the large bonanza farms were able to leverage their resources to outcompete small farmers in the late 19th century. This led to many small farmers going out of business and was a major contributing factor to the rise of large-scale industrial agriculture.

The implications of this are still being felt today. The consolidation of power in the agricultural sector due to the rise of bonanza farms has contributed to a number of issues, including environmental degradation, a decrease in rural economies, and an increase in food insecurity.

It is important to understand the historical context of this issue in order to understand how it has shaped the food system today. This includes studying how agricultural policies have shaped the market, how capital has been used to further consolidate power in the agricultural sector, and how the rise of large-scale industrial agriculture has impacted the environment and rural economies.