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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Don Lloyd who wrote (59064)1/18/2001 4:45:56 AM
From: Moominoid  Read Replies (1) of 436258
 
You are right - total factor productivity growth in US agriculture is one of the highest of all industries apart from high tech stuff. Labor productivity growth has been phenomenal... But it is a totally competitive industry on the output side bar barriers to imports. There are subsidies on the input side. So profits per unit land area have fallen over the last 50 years when deflated by the GDP deflator. Output prices have risen slower than input prices.
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