When analyzing the effects of farm technology or farm policy, it is important
to keep in mind that what is good for farmers is not necessarily good for society as
a whole. Improvement in farm technology can be bad for farmers who become increasingly
unnecessary, but it is surely good for consumers who pay less for food.
Similarly, a policy aimed at reducing the supply of farm products may raise the incomes
of farmers, but it does so at the expense of consumers.
to keep in mind that what is good for farmers is not necessarily good for society as
a whole. Improvement in farm technology can be bad for farmers who become increasingly
unnecessary, but it is surely good for consumers who pay less for food.
Similarly, a policy aimed at reducing the supply of farm products may raise the incomes
of farmers, but it does so at the expense of consumers.
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