For millennia, farming was the backbone of society. As an economic activity, it was defined by high labor intensity and low, unreliable output. In the last hundred years, we've reversed the equation completely. Today, labor is low and output is high and reliable. The difference? Advancements in the critical non-labor inputs: seeds, chemicals, and machinery.
This primer covers the ins and outs of the agriculture industry: from the farm inputs (seeds, crop protection products, fertilizers, and machinery) to the farming itself (crop production and livestock raising). We also cover the trading and processing steps, as led by players like ADM and Cargill.
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