Management Entry Into U.S. Agriculture
1970
Tolley, G. S.
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.
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