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rent, economies of size, and government payments
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tkastens
Posted 8/18/2007 09:22 (#189152 - in reply to #189136)
Subject: Re: rent, economies of size, and government payments


Thanks Pat for your comments. You make the point that farming is looking more like every other business every day, i.e., tighter margins, requiring more volume, and more dynamic assessment of change. More importantly, both you and Hay Wilson hint at the especially important tenet that happiness is about more than money. Consequently, on the farm I'm a part of we routinely have group discussions around money vs. happiness issues. Moreover, I constantly remind farmers that they should hold on to what they enjoy as they grow in size. That is, they should consider hiring not only the services that make the most sense profit-wise, but also some of the services that make the most sense fun-wise (e.g., the things you don't like to do).

Terry Kastens, ag economics, Kansas State Univesity
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