Well, those yield gains are from capitalism subsidized with government-sponsored ag research at hundreds of college campuses, and subsidized by intellectual property protections for patents and copyrights, and government price supports, and government crop insurance, and government land-bank programs to pay farmers to not overuse the land, and ag labor subsidized by special exemptions for minimum wage and citizenship verifications, as well as tight border controls and political vilification of the immigrant labor force to keep the wages low.
But yeah, when society throws enough money into capitalism and soaks up the external costs, it sometimes delivers results.
In short, modern US agriculture is hardly a good example of either unfettered markets or unfettered capitalism. Big US ag is privatized profits and socialized losses, like a lot of other US industry, albeit with much better PR than (for instance) the banking industry.
Well, those yield gains are from capitalism subsidized with government-sponsored ag research at hundreds of college campuses, and subsidized by intellectual property protections for patents and copyrights, and government price supports, and government crop insurance, and government land-bank programs to pay farmers to not overuse the land, and ag labor subsidized by special exemptions for minimum wage and citizenship verifications, as well as tight border controls and political vilification of the immigrant labor force to keep the wages low.
But yeah, when society throws enough money into capitalism and soaks up the external costs, it sometimes delivers results.
In short, modern US agriculture is hardly a good example of either unfettered markets or unfettered capitalism. Big US ag is privatized profits and socialized losses, like a lot of other US industry, albeit with much better PR than (for instance) the banking industry.