San Diego Daily Transcript: The end of cheap food

“It all goes back to the dirt.” That’s one of my fundamental premises of economic theory, built from a nontraditional study of business and trade. Every commercial interaction can trace its existence to the ground, sooner or later. The raw material, or “rude produce” as Adam Smith used to call it, that originates in the earth is the source of all industries, including the service businesses that directly or indirectly depend upon those primary sources of value creation.


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