Last modified on June 27, 2016, at 06:43

Collective farming

Collective farming is when a government owns and operates a farm in a Communist country on confiscated land.

Milton Friedman said,

China has been growing very rapidly in recent years. That's because they shifted from a very inefficient method of agricultural production to something that comes close to the equivalent of private ownership of the land and agriculture. As a result, they've been able to produce a lot more with many fewer workers and that has released workers who have come into the cities and have been able to work in industry and other areas and China has been having a very rapid increase in income. [2]