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sdholloway56
Senior Advisor

"Farming" has basically become a rent seeking activity

https://www.nakedcapitalism.com/2019/09/michael-hudson-asset-price-inflation-and-rent-seeking.html

Always has been to some degree- the secret sauce is appreciation of the underlying land. Although in the past there was some related employment through the cropping and subsidiary enterprises. Today, if you farm a few hundred acres you're basically paying for the right to do so. It is 110% rent.

Although........it is true that a retreat from anything other than full speed ahead on the larger "ownership economy" is fraught with peril- particularly if there's a well funded squad of sappers blowing everything up behind your lines.