Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
John Stuart Mill · en
It is not generally considered that in the United States, where in
many sparsely settled parts of the country new land is constantly
being brought into cultivation, an additional population under
existing conditions of agricultural skill can be maintained with
constantly increasing returns up to a certain point before the law
of diminishing returns begins to operate. Where more laborers are
necessary, and more capital wanted, to co-operate in a new country
before all the land can give its maximum product, in such a stage
of cultivation it can not be said that the law of diminishing
returns has yet practically set in.
When, for the purpose of raising an increase of produce, recourse is had
to inferior land, it is evident that, so far, the produce does not
increase in the same proportion with the labor. The very meaning of
inferior land is land which with equal labor returns a smaller amount of
produce. Land may be inferior either in fertility or in situation. The one
requires a greater proportional amount of labor for growing the produce,
the other for carrying it to market. If the land A yields a thousand
quarters of wheat to a given outlay in wages, manure, etc., and, in order
to raise another thousand, recourse must be had to the land B, which is
either less fertile or more distant from the market, the two thousand
quarters will cost more than twice as much labor as the original thousand,
and the produce of agriculture will be increased in a less ratio than the
labor employed in procuring it.
Instead of cultivating the land B, it would be possible, by higher
cultivation, to make the land A produce more. It might be plowed or
harrowed twice instead of once, or three times instead of twice; it might
be dug instead of being plowed; after plowing, it might be gone over with
a hoe instead of a harrow, and the soil more completely pulverized; it
might be oftener or more thoroughly weeded; the implements used might be
of higher finish, or more elaborate construction; a greater quantity or
more expensive kinds of manure might be applied, or, when applied, they
might be more carefully mixed and incorporated with the soil.