> Warren Buffett Blog: US Farming has improved dramatically

Wednesday, June 14, 2017

US Farming has improved dramatically


I don't really know anything about robots. But I'll put it this way. If you eventually got the world so that one guy could push one button and everything that's being produced now would be produced from him pushing that button, it'd be a better world. Now, you'd have to make sure that guy didn't keep all the output, but the idea of getting more productive, it benefits everybody. And I shouldn't say it benefits everybody. It benefits society. It can hurt individuals in their given industries. But we should long for more productivity. That'll give a fewer hours worked, it'll give more output per capita, it'll give better living for people. And that's what we've done, actually, in this country. 

We saw it dramatically in farming. I mean, it's unbelievable what has happened in farming. And we now have 2 percent of the population working on farms, doing way better than when we had 80 percent. But if we didn't have tools and fertilizer and all those things, we'd be an agrarian economy and we'd be living like we did in 1776.