Episode 723: The Risk Farmers : Planet Money There is a mystery in many poor countries. Why don't farmers specialize and grow more food? Two economists with very different theories go head to head to find out.
Episode 723: The Risk Farmers
The bag is full of cash, a flood insurance payout being distributed. Courtesy of Innovations for Poverty Action hide caption
The bag is full of cash, a flood insurance payout being distributed.
Courtesy of Innovations for Poverty ActionWe recently visited a man who may be the best apple farmer in Lesotho. He wanted to expand his business — but he was wary of going all-in on apples.
This is a common issue in the developing world: Farmers don't grow enough of the things they're best at growing.
Why not?
Two economists — who work across the hall from each other, and who have devoted their careers to studying ways to help the poor — came up with very different answers to that question. And they decided to figure out who was right.
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