The current global landscape of the agricultural economy is composed of large companies. In fact, their presence is prevalent enough to dictate and formulate policies and standards within the industry (Chemnitz et al., 2017). In practice, this has resulted in a number of discrepancies such as environmental damages, violations of human and labor rights, and even the lack of effort to minimize poverty. While the scale of the issue may seem too large to resolve, alterations of consumer buying habits have the potential to foster diversity within such industries. However, buying habits are only a small fragment of a number of interventions that are necessary. Perhaps the most vital change that is missing includes government presence.
The most interesting aspect of the reading to me was focused on how the current size of the agricultural market was attained. The most prominent driver of such expansion was technological advancements that led to fundamental changes within the institution of the agricultural economy. Because machines were able to harvest in abundant amounts compared to employees, this created a substantial raise within the supply component of the economy. Companies also gained the upper hand by being able to sell quantities of crops before they were even sown. Such growth allowed even further expansion, though global companies would infrequently observe the effects of their actions on the planet, people in poverty, or farmers.
Another interesting factor of the rapid and substantial expansion of the agricultural market was the evolution of food retail. Essentially, the effectiveness of retail operations currently influences purchasing habits and product availability, especially within developing and developed countries. As such, from an economic perspective, the size of a food retail firm dictates its influence over both the consumer choice and which suppliers are selected. The monopolization that currently exists within the market is problematic, mainly due to the fact that such firms disregard the issues of modern agricultural processes.