ORGANIZATION OF THE FARM 



interest of the farmer does not extend to all 

 of the factors of production, conflicting interests 

 are certain to arise, as between the landlord and 

 the tenant, or the employer and the employee. 

 While the farmer is interested, personally, in hav- 

 ing his own share of the produce large in propor- 

 tion to the efforts which he puts forth, the states- 

 man should be interested equally in having the 

 returns to all the factors of production as large 

 as possible. It is, therefore, not the return to 

 any one factor in particular, but the sum of the 

 returns to all the factors which should be of vital 

 interest to the statesman. With the limitations 

 which have been suggested, the highest long-time- 

 average value of the total product of this industry, 

 is, then, the goal, when agriculture is viewed from 

 the standpoint of the nation as a whole. 



It will be our purpose in the following chapters, 

 to outline the economic principles which the 

 farmer follows when intelligently seeking to win 

 the largest possible net profits; and also to note 

 those circumstances under which the winning of 

 the largest net profits on the part of the farmer 

 does not result also in the highest value of the 

 agricultural productions of the country as a 

 whole. It will be attempted, further, to outline 

 some of the methods which have been employed 

 by public authority in its attempts to promote the 

 agricultural interests, and to discuss the institu- 

 tions which are essential to a proper adjustment 



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