(My browser spectacularly glitched the first time I tried to post this comment)
There was a story on NPR the other day about the "Green Revolution" program in India. (http://www.npr.org/templates/story/story.php?storyId=102944731&ps=cprs) Apparently in the 1960s India decided to "modernize" their farming practices. it started off great, digging some shallow wells and throwing down a bit of fertilizer and pesticide greatly increased their harvests.
But every year the wells had to be dug a bit deeper, and the farmers had to use a bit more fertilizer and pesticide, and the harvest was a bit smaller. Now many farmers are horribly in debt, having to get loans to buy bigger well pumps and more chemicals to use on their crops.
Banks won't lend to them anymore, so they're having to go to the local loan sharks and accept 20-30% interest rates.
no subject
There was a story on NPR the other day about the "Green Revolution" program in India. (http://www.npr.org/templates/story/story.php?storyId=102944731&ps=cprs) Apparently in the 1960s India decided to "modernize" their farming practices. it started off great, digging some shallow wells and throwing down a bit of fertilizer and pesticide greatly increased their harvests.
But every year the wells had to be dug a bit deeper, and the farmers had to use a bit more fertilizer and pesticide, and the harvest was a bit smaller. Now many farmers are horribly in debt, having to get loans to buy bigger well pumps and more chemicals to use on their crops.
Banks won't lend to them anymore, so they're having to go to the local loan sharks and accept 20-30% interest rates.