Should agriculture also be handed over to private companies to produce the quantum nd better crops in developing or under developed countries?
That would just legitimize the ones controlling 100 out of our 600 districts even more.
Private companies do large scale commercial farming & hoarding. And private companies produce & operate through profit maximization. I have no problem with it if it something like cars, IT, bikes, cricket bats, etc., but not stuff like food & medicine & housing.
Most certainly not food. Take a look at the business mode of priv. sector enterprise. On Marginal revenue Vs Marginal Cost Vs Total Production curve, they operate at a point where MC is low, and where MR is highest. Against Total production, that is highest point on the inverse u curve. Y axis is total production.
So if it is not profitable to produce beyond, say- 50,000 tonnes (for example's sake), priv firms won't produce & will just export the remainder. BUt keep in mind, our POPULATION RATE is higher than say- Singapore.
So in agriculture, we need to collectivize ...more