The ultimate goal of all economic activity is to increase the real wealth of the community, and thereby hopefully to increase the happiness of its individual members. Milk production is no exception. Dairy farming is a link in the biological chain through which photosynthesis nourishes us all. To serve the community, it must be in a position to convert photosynthetic products into milk at an ever-decreasing real cost. This of course will have the short-term effect of increasing dairy farmers’ incomes. In the longer term, competition between producers will ensure that the benefits are passed on to the community at large.
Proceedings of the World Congress on Genetics Applied to Livestock Production, Volume 1, Madrid, Spain, 531–539, 1974
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