“[Schultz specifically refers to the manner in which inputs are used when he states that one implication of his] efficient but poor hypothesis… [is] that the combination of crops grown, the number of times and depth of cultivation, the time of planting, watering, and harvesting, the combination of hand tools, ditches to carry water to the fields, draft animals and simple equipment -- are all made with a fine regard for marginal costs.”

— Theodore Schultz

Source: "Transforming traditional agriculture," 1964, p. 39; as cited in: Kenneth H. Shapiro (1976) Efficiency differentials in peasant agriculture and their implications for development policies, p. 2

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Theodore Schultz 15

American economist 1902–1998

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