What is the technological treadmill and why has this proven to be a challenge for farmers in marginal areas in the North American heartland during the past two and half decades or so?

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02-03-2020
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What is the technological treadmill and why has this proven to be a challenge for farmers in marginal areas in the North American heartland during the past two and half decades or so?

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ameduanne ameduanne · Answer 1 · 2020-03-02T16:16:11+01:00

Answer: Technological treadmill have forced a lot of people out of work because it requires lesser labour in the primary sector. Also as harvest increases, prices of goods becomes lower resulting in less profitability.

Explanation:

Although North America produces vast quantities of food, only few people are involved in such production. This is because of the technological innovations that took place in the past two and a half decade. This enabled North America to grow large amount of food crops with low labour input. These technological innovations are technological treadmill. This has forced a lot of people out of work in the primary sector. An increase in the goods supplied result in lesser prices leading to less profit generated. To boost Agricultural production, the treadmill was introduced. These effort isn't just enough to increase income of farmers because the demand for goods is non-flexible while the prices of agricultural material is flexible.