The Industrial Revolution disrupted the economic landscape across the United States, turning what once was a primarily agrarian economy into one of labor and manufacturing. In this process, the farm became less ubiquitous across the country, and by the present age, farms are mostly relegated to specific "rural" areas. This division has caused an ideological split in how many value and perceive the value of farms and land.
Because this shift has occurred, many are keen to blame capitalism and free markets for the many woes farmers face. In reality, capitalism has been a driving force in helping farms keep production up on a mass scale. New, innovative solutions also help add creative new ways to allow new players into farming. As Rich Bradbury succinctly put it:
Capitalism is about destruction and renewal. It's a predator within the herd, a force of fire and rebirth—indiscriminate and beautiful.
Look at the recent sale of Easterday farms for $209 million to Farmland Reserve, a company backed by the Church of Jesus Christ Latter-day Saints, with Bill Gates' investment firm as the runner-up.
This isn't just a headline. It's the trailhead at the beginning of a journey into a future where agricultural lands are highly valued.
He goes on to list some innovations introduced into the farming sector, such as fractional investments in farms, dual-use farming land agreements, and joint ventures with non-agricultural businesses to name a few.
His insights provide a key perspective from someone with hands-on experience. Easy as it is to say all the woes of an industry are the fault of capitalism, the truth is that as countries change and develop, free markets allow new, creative ways for farms and agriculture to thrive. Change is inevitable, and markets provide a way for farms to keep up with the change and provide good value to their communities.
