摘要：Textbooks in agricultural economics characterize resources used in productionagriculture into four categories; land, labor, capital and management. Profit is presented asearned in the process of management. This traditional list of resources is respecified. Management becomes a specialized type of labor and two additional resources, information andthe willingness and ability to bear risk, are added. It is argued that profits accrue not tomanagement but to those willing and able to bear the risk inherent in production agriculture. The strategy of equity diversification is presented as a means for farmers to provide this resourceand thus earn economic profits. Producer education and the repeal or amendment of legislationrestricting the ability of farmers to diversify their equity investment are needed.
