He was commenting on the risk decisions of farmers throughout history. It would be sensible for people to put all their effort into growing surplus of one crop for sale, but then they would be at greater risk of starving under crop failure.
People's choices are affected by their (percevied) risk calculus.
"They are poor, not stupid"
He was commenting on the risk decisions of farmers throughout history. It would be sensible for people to put all their effort into growing surplus of one crop for sale, but then they would be at greater risk of starving under crop failure.
People's choices are affected by their (percevied) risk calculus.
https://acoup.blog/2020/07/24/collections-bread-how-did-they...