I want to say something about the decline, the virtual ruin, of rural life, and about the influence and effect of agricultural surpluses, which I believe are accountable for more destruction of land and people than any other economic “factor.” This is a task that ought to be taken up by an economist, which I am not. But economists, even agricultural economists, farm-raised as many of them have been, do not live in rural communities, as I do, and they appear not to care, as I do, that rural communities like mine all over the country are either dying or dead. And so, only partly qualified as I am, I will undertake this writing in the hope that I am contributing to a conversation that will attract others better qualified.
I have at hand an article from the Wall Street Journal of February 22, 2016, entitled “The U.S. Economy Is in Good Shape.” The article is by Martin Feldstein, “chairman of the Council of Economic Advisors under President Ronald Reagan . . . a professor at Harvard and a member of the Journal’s board of contributors.” Among economists, Prof. Feldstein appears to be somewhere near the top of the pile. And yet his economic optimism is founded entirely upon current measures of “incomes,” “unemployment,” and “industrial production,” all abstractions narrowly focused. Nowhere in his analysis does he mention the natural world, or the economies of land use by which the wealth of nature is made available to the “American economy.” Mr. Feldstein believes that “the big uncertainties that now hang over our economy are political.”
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