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Management Entry Into U.S. Agriculture
Author(s) -
Tolley G. S.
Publication year - 1970
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1237255
Subject(s) - obsolescence , agriculture , economics , distribution (mathematics) , human capital , business , labour economics , agricultural economics , natural resource economics , market economy , marketing , geography , mathematical analysis , mathematics , archaeology
The view that agriculture is undergoing replacement of one kind of human capital by another is offered as alternative to the traditional view that resources are chronically oversupplied to farming. The hypothesis that high level management farms have experienced favorable cost curve shifts explains farm number declines as primarily replacement of many low management by fewer high management farms. The replacement raises efficiency modestly. Occupational supply behavior relations for management levels lead to inferences about income distribution and future structure of agriculture. A price‐income policy is suggested to compensate outmoded management for obsolescence.