With apologies for being flip; I can't resist it.
I wonder which economists "Feedstuffs" talked to?
Probably Professor Gift (of the Econ Dept at Moo University in the satirical
novel "Moo") was among them. Care to venture a guess about who it was that
inspired the Professor Gift character?
If memory serves me, JK Galbraith had bought into the common wisdom that
bigger is better in his "New Industrial State," a book popular in the late
1960's. That thinking has been out of vogue for some time in industrial
organization (the part of economics dealing with anti-trust, etc)-and
judging from the tendency for modern corporations to spin-off and downsize,
current business doesn't really buy the 'get-big-get-out' bromide.
Detroit followed that prescription down a blind alley in the 50's and 60's.
Looks like the feedlot industry would like US agriculture to emulate it.
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