THE PROBLEM OF AGRICULTURAL ECONOMICS 77 



doing. It is the most important thing for any business man to know. 

 It is the matter about which most farmers never think. In so far 

 as one knows the cost of his own products, those of his competitors, 

 and the cost of the transportation which each must bear, he is fairly 

 well equipped as a producer and seller. He can judge what it will 

 pay him to produce. A wise producer also understands eixsting 

 demand and seeks to learn whether he can profitably fill it. But, in 

 addition to the mere question of marketing, the farmer's net income 

 is affected in hundreds of ways by forces which he may, if he will, 

 understand. Society itself is a product of an evolution not yet com- 

 plete. Its development is proceeding according to natural laws, some 

 of which, at any rate, we can perceive. The science which deals with 

 these phenomena of society which most directly affect men's incomes 

 is called ' 'economics." It considers such questions as taxation, 

 bankjng, co-operation, transportation, currency, commerce in all its 

 forms, and kindred topics, many of them subject to political action. 

 The farmer needs to understand these subjects as they really are, not 

 only that he may think and vote intelligently, but that he may not 

 wear his heart out in struggling with imaginary causes of evil or with 

 economic tendencies which cannot be changed. A great part of the 

 education which is the hope of the farmer lies right here. It is a part 

 that has been too much neglected. 



