Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
John Stuart Mill · en
The example of market-gardens in the vicinity of great cities and
towns shows how the intensive culture permits an increase of labor
and capital with larger returns. These lands, by their situation,
are superior lands for this particular purpose, although they
might be inferior lands as regards absolute productiveness when
compared with the rich wheat-lands of Dakota. New England and New
Jersey farms, generally speaking, no longer attempt the culture of
grains, but (when driven out of that culture by the great railway
lines which have opened up the West) they have arranged themselves
in a scale of adaptability for stock, grass, fruit, dairy, or
vegetable farming; and have thereby given greater profits to their
owners than the same land did under the old _régime_. Even on
lands where any grain can still be grown, corn, buckwheat, barley,
oats, and rye, cover the cultivated areas instead of wheat.
Inferior lands, or lands at a greater distance from the market, of course
yield an inferior return, and an increasing demand can not be supplied
from them unless at an augmentation of cost, and therefore of price. If
the additional demand could continue to be supplied from the superior
lands, by applying additional labor and capital, at no greater
proportional cost than that at which they yield the quantity first
demanded of them, the owners or farmers of those lands could undersell all
others, and engross the whole market. Lands of a lower degree of fertility
or in a more remote situation might indeed be cultivated by their
proprietors, for the sake of subsistence or independence; but it never
could be the interest of any one to farm them for profit. That a profit
can be made from them, sufficient to attract capital to such an
investment, is a proof that cultivation on the more eligible lands has
reached a point beyond which any greater application of labor and capital
would yield, at the best, no greater return than can be obtained at the
same expense from less fertile or less favorably situated lands.