Close Menu
    What's Hot

    Trending stocks this week as S&P 500 notches best weekly gain in 5 months (SP500:)

    April 4, 2026

    I Left My Career to Be a Stay-at-Home Mom. I Wasn’t Prepared for It.

    April 4, 2026

    Real estate stocks snap monthly winning streak in March (XLRE:NYSEARCA)

    April 4, 2026
    Facebook X (Twitter) Instagram
    Hot Paths
    • Home
    • News
    • Politics
    • Money
    • Personal Finance
    • Business
    • Economy
    • Investing
    • Markets
      • Stocks
      • Futures & Commodities
      • Crypto
      • Forex
    • Technology
    Facebook X (Twitter) Instagram
    Hot Paths
    Home»Economy»The High Cost of Self-Sufficiency
    Economy

    The High Cost of Self-Sufficiency

    Press RoomBy Press RoomJune 9, 2025No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Mike Riggs and his wife dreamed of returning to the land. It wasn’t as easy as it looks on Tik-Tok:

    How many square feet of raised beds do you need to meet a toddler’s strawberry demand? I still don’t know. We dedicated 80 square feet to strawberries last season. The bugs ate half our harvest, and the other half equaled roughly what our kid could eat in a week.

    Have you ever grown peas? Give them something to climb, and they’ll stretch to the heavens. Have you ever shelled peas? It is an almost criminal misuse of time. I set a timer on my phone last year. It took me 13 minutes to shell a single serving. Meanwhile, a two-pound bag of frozen peas from Walmart costs $2.42. And the peas come shelled.

    …In addition to possums and deer, we’ve faced unrelenting assaults from across the eukaryotic kingdoms: the tomato hornworm caterpillar, the cabbage looper caterpillar, the squash vine borer, the aphid, the thrip, the earwig and the sowbug; cucurbit downy mildew, powdery mildew, collar rot, black rot, sooty mold, botrytis gray mold and stem canker; the nematode, the gray garden slug, the eastern gray squirrel, the eastern cottontail rabbit and the groundhog. All of these organisms reside in the North Carolina Piedmont and like to eat what we eat. Many of them work toward this existential goal while humans sleep, which is why the North Carolina State Agriculture Extension advises growers to inspect their plants at night. No, thank you.

    …. In the early 1900s, one of my paternal great-grandfathers moved from urban Illinois to a homestead in Oklahoma. Our only picture of him was taken shortly before the Dust Bowl destroyed his farm. After his farm failed, he abandoned my great-grandmother and their children and migrated to California with thousands of other Okies. When my crops fail, I go to Whole Foods.

    Some good lessons here in self-sufficiency, comparative advantage and the productivity of specialization and trade. Of course, it might have been easier for Mike had he read Modern Principles:

    How long could you survive if you had to grow your own food? Probably not very long. Yet most of us can earn enough money in a single day spent
    doing something other than farming to buy more food than we could grow in a year. Why can we get so much more food through trade than through
    personal production? The reason is that specialization greatly increases productivity. Farmers, for example, have two immense advantages in producing
    food compared with economics professors or students: Because they specialize, they know more about farming than other people, and because they sell large quantities, they can afford to buy large-scale farming machines. What is true for farming is true for just about every field of production—specialization increases productivity. Without specialization and trade, we would each have to produce our own food as well as other goods, and the result would be mass starvation and the collapse of civilization.

    Oh, and by the way, don’t forget Adam Smith, “What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.”

    The post The High Cost of Self-Sufficiency appeared first on Marginal REVOLUTION.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Press Room

    Related Posts

    Wall Street slides as valuation concerns, rate-cut jitters linger

    November 18, 2025

    Wall St opens lower as valuation concerns, rate-cut jitters linger

    November 18, 2025

    They solved for the Kansas City Chiefs enforcement equilibrium

    September 5, 2025
    Leave A Reply Cancel Reply

    LATEST NEWS

    Trending stocks this week as S&P 500 notches best weekly gain in 5 months (SP500:)

    April 4, 2026

    I Left My Career to Be a Stay-at-Home Mom. I Wasn’t Prepared for It.

    April 4, 2026

    Real estate stocks snap monthly winning streak in March (XLRE:NYSEARCA)

    April 4, 2026

    Dubai Says Oracle’s Local Office Was Struck by Missile Debris

    April 4, 2026
    POPULAR
    Business

    The Business of Formula One

    May 27, 2023
    Business

    Weddings and divorce: the scourge of investment returns

    May 27, 2023
    Business

    How F1 found a secret fuel to accelerate media rights growth

    May 27, 2023
    Advertisement
    Load WordPress Sites in as fast as 37ms!

    Archives

    • April 2026
    • March 2026
    • February 2026
    • January 2026
    • December 2025
    • November 2025
    • October 2025
    • September 2025
    • August 2025
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • May 2023

    Categories

    • Business
    • Crypto
    • Economy
    • Forex
    • Futures & Commodities
    • Investing
    • Market Data
    • Money
    • News
    • Personal Finance
    • Politics
    • Stocks
    • Technology

    Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

    We're social. Connect with us:

    Facebook X (Twitter) Instagram Pinterest YouTube

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Buy Now
    © 2026 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.