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feel","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=7.67,9.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/3","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that they should not support","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=9.62,11.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/4","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that whole Agricenter because they feel","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=11.66,15.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/5","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that it's been used by Atkins to move his own bill","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=15.7,18.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/6","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and not altogether above board.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=20.41,22.793"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/7","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You see that model originated from USDA.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=31.934,35.267"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/8","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e David:\u003c/strong\u003e My name is David Klein.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=37.1,38.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/9","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm in the philosophy department","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=38.37,39.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/10","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'm going to introduce the speakers for you today.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=39.72,42.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/11","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Prior to that, I want to remind you","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=43.84,45.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/12","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the rest of the program.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=45.47,47.943"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This evening at 8 o'clock,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=49.35,50.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the two speakers we have now will be reversed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=50.68,54.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/15","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They'll talk again tonight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=54.94,57.733"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/16","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with Luther Tweeten giving the main talk","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=59.182,61.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/17","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that will be in the sun room.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=64.04,65.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/18","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Tomorrow in this room, John Hart will 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view.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=72.04,76.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/21","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then later in the evening at the 8 o'clock session,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=76.2,79.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/22","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Michael Novak will give a talk","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=79.73,83.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/23","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the same title, another view.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=83.05,85.113"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/24","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The procedure will be for professor Marion","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=88.75,91.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/25","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to speak for a while and give his paper.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=91.43,94.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/26","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then I'll introduce professor Tweeten","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=94.44,96.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/27","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and then we'll have a question \u0026amp; answer discussion period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=96.79,100.323"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/28","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Bruce W. Marion is professor of Agricultural Economics","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=103.54,107.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/29","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at the University of Wisconsin.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=107.37,109.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/30","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He received his PhD in Agricultural 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85,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=116.46,120.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/33","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"he was director of Project 117.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=120.03,122.943"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/34","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Title of that project is The Organization and Control","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=123.79,126.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/35","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the U.S Agricultural Production and Distribution System.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=126.61,129.923"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/36","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This project proved to be very rich project 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is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=139.26,143.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/39","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is the Family Farmer Being Squeezed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=143.44,145.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/40","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Out of Business by 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Monopolies,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=181.62,183.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/52","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I thought it was a bit of a red herring,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=183.96,185.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/53","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I thought I could live with it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=185.74,188.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/54","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, this is my third version of the paper,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=188.24,191.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/55","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's proved to be a frustrating undertaking","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=191.09,194.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/56","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because as stated the titles sets up a straw man,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=195.47,199.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/57","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's fairly easy to shoot down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=199.74,201.593"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/58","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that diverts attention from questions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=202.56,205.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/59","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that should be asked.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=205.1,206.283"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/60","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Monopoly power in large firms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=207.53,209.597"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/61","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the two are not necessarily synonymous,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=209.597,212.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/62","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"probably do contribute to the forces,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=212.88,215.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/63","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"causing a decline in the number of family farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=215.21,218.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/64","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"However, in my judgment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=218.67,219.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/65","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they are relatively minor contributors to the problem","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=219.82,223.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/66","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and maybe more difficult to do something about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=223.63,226.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/67","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than other causes.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=226.85,228.143"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/68","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, if it's any comfort","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=230.67,233.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/69","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to those who came up with the title,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=233.24,236.273"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/70","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would say that they're also a few economists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=237.33,242.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/71","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"running around who has had","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=242.08,243.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/72","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the other extreme point of view","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=243.47,245.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/73","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that all markets are competitive,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=245.75,247.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/74","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we can just keep government out of them.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=247.8,250.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/75","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=250.0,250.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/76","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think both are at sort of extreme positions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=250.89,254.453"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/77","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The NC 117 research that was mentioned","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=256.1,261.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/78","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"revealed that monopoly power is an important problem","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=261.22,264.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/79","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in many parts of the U.S food system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=264.27,266.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/80","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It results in consumers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=266.64,267.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/81","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"paying billions of dollars more per year","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=267.84,270.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/82","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for food and related products.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=270.04,272.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/83","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But monopoly power that impacts consumers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=272.37,275.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/84","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which has been fairly well documented,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=275.97,278.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/85","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"does not necessarily translate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=278.46,280.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/86","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into monopoly power that affects farmers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=280.2,283.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/87","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"To answer that question,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=283.75,285.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/88","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is the title to this paper.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=285.07,288.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/89","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"one has to attract through the extent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=288.17,290.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/90","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to which non-competitive markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=290.15,291.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/91","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are resulting in a decline in the family farm.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=291.86,296.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/92","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there's really very little empirical evidence","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=296.0,299.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/93","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on this issue,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=299.04,299.893"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/94","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but based upon the research that we did,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=301.47,305.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/95","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as part of NC 117,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=305.22,307.497"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/96","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I find no evidence that a conspiracy exists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=307.497,310.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/97","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to drive family farmers out of business.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=310.78,313.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/98","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the evidence also does not support","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=313.29,315.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/99","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the notion that non-competitive markets are a major factor","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=315.49,319.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/100","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in causing the demise of family farmers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=319.6,322.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/101","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It seems to me that the more relevant questions are these,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=322.01,326.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/102","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do some farmers receive sub competitive prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=326.98,330.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/103","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for their output and/or pay","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=330.23,332.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/104","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"supra competitive prices for inputs?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=332.58,335.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/105","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if so, how does this affect the structure of farming","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=335.5,338.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/106","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or what are the factors affecting","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=339.44,342.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/107","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the evolving structure of U.S agriculture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=342.01,344.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/108","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and particularly the decline and family-size farms?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=344.45,347.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/109","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Do large firms and the input supplier product","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=347.85,350.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/110","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"marketing system with or without monopoly power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=350.02,353.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/111","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"affect the survival of the family farm?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=353.88,355.963"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/112","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And third, what happens to farms that go out of business?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=357.08,360.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/113","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are they bought my new family farmers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=360.7,362.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/114","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"absorbed by existing farmers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=362.71,364.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/115","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"left idle, purchased by non-farm investors or what?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=364.38,368.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/116","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Because, you know, this affects","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=368.13,370.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/117","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the evolving structure of a family farm.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=370.03,374.313"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/118","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then finally, what, if anything","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=375.3,376.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/119","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can and should be done to 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childhoods","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=420.45,424.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/136","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this morning and I can't help when I read this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=424.9,429.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/137","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Remember that I think one of the first times","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=429.48,431.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/138","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I got exposed to some idea about market power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=431.14,434.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/139","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"was in my grandfather's farm in Upstate New 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co-ops","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=438.303,440.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/142","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because he had the strong feeling","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=441.26,443.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/143","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that he was vulnerable in the 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to.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=448.47,451.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/146","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so it's where some of my pocket","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=451.16,454.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/147","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of this tendencies come from.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=454.63,456.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/148","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, let me consider the logic of how,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=459.49,463.407"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/149","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and to what extent large 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power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=476.25,479.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/154","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"negatively affecting the survival","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=479.37,481.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/155","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of currently existing family 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farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=495.59,498.603"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/160","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think, you know, if we look the time period","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=499.58,503.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/161","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we're looking at (indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=503.32,504.153"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/162","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of different and how we size the situation up.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=504.153,506.913"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/163","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For current farmers, and in the short run, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=507.95,511.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/164","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this year, anything that reduces their income","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=511.27,514.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/165","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or increases their 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inputs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=523.87,527.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/170","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of some farmers, it may affect their survival.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=527.72,530.973"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/171","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But does this necessarily 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industries,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=542.99,547.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/176","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"probably some other industries, more than farming.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=547.57,550.243"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/177","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there's some important 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production.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=555.54,557.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/180","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Given the existing technology,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=557.88,559.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/181","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how big do you need to be to be efficient?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=559.33,562.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/182","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And as Lauren said this morning,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=562.1,565.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/183","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"most of the evidence in agriculture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=565.12,567.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/184","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for agricultural production","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=567.5,568.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/185","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is that you don't have to have a real large farm","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=568.76,572.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/186","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to achieve all the economies of scale","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=572.72,575.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/187","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"available in production.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=575.04,577.143"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/188","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Second, the economies in procurement and/or marketing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=579.64,584.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/189","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and here the evidence is it that there are some economies","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=584.62,589.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/190","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"beyond probably the size necessary in production.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=590.96,594.713"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/191","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think this is true in farming,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=595.83,597.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/192","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it certainly is true over in the marketing system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=597.87,601.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/193","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They're tremendous economies in advertising","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=601.34,603.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/194","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and promotion for example.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=603.78,605.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/195","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And this is one of the things that drives large farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=605.16,608.917"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/196","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to continue to get bigger in the food manufacturing areas","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=608.917,613.917"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/197","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are some of the economies and advantages","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=614.27,617.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/198","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the marketing area.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=617.03,618.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/199","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And third, this economies, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=618.52,620.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/200","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is there any upper bound where costs begin to increase","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=620.71,624.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/201","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and hence your farm is not going to grow","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=624.19,626.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/202","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"beyond a certain size?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=626.83,628.223"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/203","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, these things which are usually, I mean,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=629.07,632.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/204","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we're mainly focusing here on economies of scale,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=632.53,636.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/205","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"technology, these types of fundamental,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=636.86,639.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/206","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"natural economic forces","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=639.92,641.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/207","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they tell us something and they usually explain part of","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=643.789,648.789"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/208","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how an industry is organized.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=649.16,651.183"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/209","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But most studies reveal that they only partially","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=652.15,655.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/210","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"determine the structure of industries.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=655.9,658.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/211","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Usually there's a wide variety here from sizes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=658.22,661.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/212","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some much larger than necessary to achieve economies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=661.56,664.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/213","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Some much smaller that somehow survive.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=664.66,668.363"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/214","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Usually a number of other factors can be identified","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=669.29,672.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/215","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"such as mergers or industry consolidations,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=672.14,677.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/216","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"simply superior management or luck, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=677.26,680.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/217","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that affects this distribution of farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=680.57,682.593"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/218","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Thinking in agriculture as I said,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=684.34,689.049"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/219","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the evidence is that, for example,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=689.049,693.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/220","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"corn-soybean farm in the Midwest","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=693.19,696.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/221","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"needs to be someplace in the area of 400 acres","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=696.83,699.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/222","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to call in the USDA or 300, I'm sorry.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=699.31,702.993"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/223","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let me look at my notes.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=703.828,705.053"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/224","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Their estimate for 1979 was that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=708.15,710.657"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/225","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a 300-acre corn-soybean farm, according to Bell","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=714.39,716.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/226","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"would achieve 90% of the economies attainable,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=716.89,719.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/227","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"640-acre farm would achieve all economies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=719.39,722.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/228","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that they're focusing in on production economies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=722.31,724.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/229","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There may be some economies from beyond that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=724.58,727.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/230","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but you know, we're not talking about small farms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=727.92,730.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/231","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we were also not talking about huge farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=730.89,733.063"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/232","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And in most commodities, this is the way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=734.005,737.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/233","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it tends to come out.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=737.52,738.993"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/234","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if we look at the structure of farming,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=740.22,743.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/235","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we find this array, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=743.63,745.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/236","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of ranging from very, very large farms down to small farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=745.44,750.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/237","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that even though they're too small to really be efficient","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=750.83,754.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/238","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"according to our definition,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=754.49,756.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/239","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're still able to survive.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=756.55,758.053"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/240","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Farms may be marginal for a variety of reasons.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=759.24,762.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/241","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's only some of which are related to efficiency.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=762.94,765.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/242","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They may be too small.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=765.81,767.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/243","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They may employ inefficient technologies,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=767.33,769.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/244","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"maybe located in areas","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=769.7,770.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/245","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where soil fertility and climate result in high costs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=770.86,775.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/246","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They may have poor management.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=775.94,777.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/247","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They may receive sub competitive prices for the output.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=777.73,780.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/248","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They may have expanded at the wrong time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=780.98,783.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/249","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or some combination of factors.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=783.16,785.113"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/250","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Marginal farms may survive for a long time","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=785.98,788.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/251","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if they have a little debt","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=788.69,790.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/252","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or have significant off-farm income.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=790.02,792.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/253","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the present time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=792.52,793.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/254","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the survival of even the efficient family farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=793.4,796.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/255","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is heavily influenced by their debt burden","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=796.59,799.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/256","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and off-farm income.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=799.14,800.313"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/257","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now let's come back to the question","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=801.16,802.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/258","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of whether for large farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=802.48,803.885"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/259","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and not monopoly power affect","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=803.885,806.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/260","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the long run numbers and size of farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=806.14,810.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/261","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If monopoly power results","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=810.0,811.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/262","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in some current marginal farmers going out of business,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=811.66,816.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/263","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"will this affect the future number of farms?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=816.3,819.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/264","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And to answer this, we really need to know these things.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=819.91,824.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/265","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Of the farms going out of business,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=824.46,826.993"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/266","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how many are simply too inefficient","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=828.02,829.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/267","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to survive in the long run, you know.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=829.99,832.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/268","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Even if they're able to survive this year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=832.16,834.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/269","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're going to go out next year.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=834.45,836.073"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/270","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And how many could survive in the long run,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=837.73,841.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/271","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but for a temporary crisis,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=841.73,844.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/272","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"trying to get through this current financial crisis","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=844.48,848.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/273","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or non-competitive prices for outputs or for inputs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=848.08,852.153"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/274","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then we need to know what happens","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=854.22,856.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/275","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the second group of farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=856.16,857.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/276","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Those who could survive if they got competitive prices,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=857.61,860.953"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/277","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or if they were able to make it through a temporary crisis.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=862.188,865.138"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/278","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are those farms purchased by new farmers?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=866.16,868.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/279","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if they are, then you don't have any decline","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=868.96,871.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/280","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in farm numbers or are they purchased by existing farmers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=871.86,876.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/281","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who are already a large enough to survive,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=876.11,879.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/282","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is probably the more likely case today","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=879.0,881.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/283","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that when you have consolidation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=881.57,884.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/284","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's usually the larger efficient farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=884.41,887.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/285","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that are acquiring the ones that are going out of business.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=887.9,891.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/286","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"At least that's my gut instinct.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=891.28,893.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/287","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know as I've seen any data","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=893.67,895.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/288","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But in the latter case,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=897.18,899.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/289","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when farms go out of business,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=899.17,901.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/290","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that didn't have to go out of business","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=901.26,903.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/291","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for efficiency reasons,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=903.43,905.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/292","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then you do have a decline in farm numbers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=905.5,907.833"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/293","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't feel very well equipped to answer,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=910.06,913.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/294","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you know, these questions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=913.0,914.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/295","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And to my knowledge, there's been no study done","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=914.23,916.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/296","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to try to study the evolution of the farm structure","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=916.08,919.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/297","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from this standpoint,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=919.98,920.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/298","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to try to track it over time, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=920.94,922.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/299","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what happens when farms do go broke?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=922.98,925.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/300","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I do believe that there's some logic","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=927.86,929.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/301","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for believing large firms and monopoly power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=929.74,931.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/302","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are having a modest negative impact","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=931.98,934.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/303","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the survival of current family farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=934.12,936.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/304","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And will have some influence, albeit not major","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=936.61,939.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/305","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the future structure of farming.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=939.82,942.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/306","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"However, there's little question in my mind,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=942.6,944.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/307","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but that other factors are the major determinants","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=944.8,947.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/308","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of current farm survival and future farm structure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=947.69,951.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/309","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"including macro economic policies,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=951.48,954.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/310","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"government farm programs and tax policies,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=954.29,957.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/311","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"volatility and commodity production and prices,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=957.09,960.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/312","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"variations in the cost of major inputs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=960.56,962.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/313","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"such as interest rates, feed, fertilizer,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=962.9,965.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/314","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and when individuals bought or expanded farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=965.33,968.283"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/315","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"On addition, any assessment of farm structure","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=970.92,975.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/316","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"must also consider the extent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=975.67,977.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/317","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to which something can and should be done","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=977.38,980.143"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/318","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to alter current trends.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=980.143,982.393"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/319","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So even if we find that non-competitive markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=983.29,985.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/320","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are having some effect, we've got to ask the question,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=985.84,987.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/321","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can we change it, can we do anything about it?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=987.94,990.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/322","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And in some cases we can't, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=990.87,993.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/323","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the cash grain farmers up in Northwestern Wisconsin","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=993.2,996.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/324","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have only a couple of elevators to sell to.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=996.29,998.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/325","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They don't have very many options.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=998.93,1000.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/326","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the main reason is there's not much cash grown grain","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1000.46,1002.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/327","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"growing up there, and it's going to be pretty hard","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1002.81,1005.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/328","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to get effective competition in an area like that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1005.08,1008.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/329","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So we also have to be realistic","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1009.93,1012.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/330","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in assessing what can be done about the situation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1012.46,1015.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/331","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let me turn my attention now to the issue","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1015.35,1019.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/332","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I want to concentrate on the rest of the paper,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1019.24,1023.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/333","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that is what leads to monopoly power?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1023.28,1026.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/334","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How can we recognize it when we see it?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1026.14,1027.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/335","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And you know, where does it lie within the food system?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1027.99,1031.233"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/336","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's been considerable research","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1032.53,1033.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/337","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to identify those factors that are associated","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1033.96,1037.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/338","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with monopoly power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1037.01,1038.513"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/339","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there's rather strong evidence","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1040.555,1043.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/340","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the structure of markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1043.16,1046.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/341","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's an economists term, structure of markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1046.17,1049.363"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/342","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"largely determines the degree of monopoly power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1050.39,1053.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/343","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there's three elements of a market structure","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1053.81,1058.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/344","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that are particularly important.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1058.43,1060.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/345","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One is the concentration of business done","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1060.0,1061.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/346","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the largest buyers and sellers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1061.93,1063.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/347","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Gary this morning was talking","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1063.68,1064.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/348","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the largest four sellers of tractors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1064.89,1068.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/349","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"did this percent of the business and so on.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1068.67,1070.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/350","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, that's one of the ways we try to measure this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1070.53,1072.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/351","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is to look at what percent of the business","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1072.35,1074.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/352","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"did the top four farms do,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1074.36,1076.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/353","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or in some cases, the leading farm.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1076.09,1079.223"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/354","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If there are only a few buyers in the relevant market,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1080.76,1084.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/355","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there may be monopsony power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1084.28,1086.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/356","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if there are only a few sellers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1086.41,1088.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/357","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"may be monopoly power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1088.04,1089.653"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/358","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And generally where one or a few farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1092.15,1094.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/359","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"dominate a buying or selling side of a market,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1094.7,1096.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/360","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"competitive forces tend to be less intense","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1096.96,1101.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/361","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's with or without explicit conspiracies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1101.05,1105.193"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/362","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Second element of market structures product differentiation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1106.23,1108.377"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/363","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the main question here is the 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store","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1116.354,1118.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/368","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you buy grade A eggs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1118.9,1120.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/369","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it really doesn't make any difference to 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firms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1311.91,1314.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/436","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"hitting head are the small firms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1314.21,1316.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/437","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's what happened in this case,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1316.47,1318.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/438","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"small coffee companies went out of business.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1318.01,1322.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/439","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Both Folgers and Maxwell House gained market 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barriers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1332.5,1335.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/442","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, these are the three elements of market structure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1335.41,1339.063"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/443","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"market dominance, or 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factors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1344.97,1347.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/446","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that determine the degree of monopoly power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1347.08,1351.263"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/447","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So if we're trying to study any particular 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on.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1355.23,1357.973"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/450","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The extent to which sellers sell to well-informed buyers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1360.48,1365.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/451","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or vice versa also affects the level of monopoly power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1366.95,1370.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/452","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I will have something to say about that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1370.85,1373.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/453","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a little bit later,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1373.43,1374.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/454","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in terms of the simplification for farmers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1375.48,1377.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/455","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, a large number of empirical 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markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1382.76,1386.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/458","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and various measures of market performance.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1386.57,1390.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/459","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the things that we usually use to 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sometimes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1412.97,1416.083"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/468","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but a particular relevance to this paper","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1416.95,1421.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/469","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is the question of whether highly concentrated","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1421.45,1423.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/470","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"selling markets tend to have higher prices.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1423.57,1426.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/471","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And whether they're highly 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studies","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1451.21,1453.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/482","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that show a surprisingly consistent positive relationship","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1453.61,1457.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/483","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"between seller concentration and 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retailing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1464.66,1466.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/486","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"prescription drugs, cement, life insurance,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1466.99,1470.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/487","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"offshore oil, leases, bond 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products","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1781.96,1784.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/591","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or attempt to find a market niche,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1784.98,1787.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/592","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"not occupied by the big companies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1787.43,1789.733"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/593","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Okay, well, how prevalent is monopoly power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1791.63,1793.547"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/594","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and how does it affect 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competition","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1817.09,1818.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/605","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are either stalled or throttled down,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1818.61,1820.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/606","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"part because of data availability,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1822.06,1824.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/607","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on monopoly power that affects consumers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1824.05,1826.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/608","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has been studied to a much greater 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retailing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1838.199,1841.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/615","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by studied that we did.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1841.76,1843.313"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/616","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Monopoly power is, as I said, positively 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industries,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1860.64,1863.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/619","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the two are closely linked.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1863.86,1865.693"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/620","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The industries that are highly 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consumers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1953.72,1955.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/647","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"may be paying prices above competitive level","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1955.91,1958.257"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/648","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and for what products, but it gives us a little insight","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1958.257,1961.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/649","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into the impact on farmers, you know.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1961.53,1965.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/650","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So soft drink manufacturers are making a lot of money.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1965.58,1969.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/651","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What sort of repercussions, if any,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1969.65,1971.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/652","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"does that have on 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goods.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1979.5,1982.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/655","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Farmers don't sell their products to the national markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1982.85,1985.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/656","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they usually sell their output to buyers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1985.54,1988.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/657","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within 100 or 200 miles of the farm.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1988.01,1991.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/658","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And whether the buyer is a grain elevator ,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1991.0,1994.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/659","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"meat pack or a dairy cooperative,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1994.07,1995.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/660","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a sugar refiner, or a broader integrator.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1995.76,1998.313"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/661","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So farmer first-handler markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=1999.63,2002.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/662","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are inherently local in nature.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2002.3,2004.723"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/663","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"National concentration figures","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2005.84,2008.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/664","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for food manufacturing industries may give us a little idea","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2008.41,2012.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/665","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the level of buyer concentration","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2012.12,2014.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/666","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in those local markets.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2014.66,2016.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/667","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For example, 1980, the largest for beef slaughters","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2016.2,2019.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/668","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the U.S accounted for 39% of all steers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2019.88,2022.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/669","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and heifers slaughtered,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2022.47,2023.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/670","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but in the 13 regional procurement markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2024.72,2027.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/671","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is more closer to where the feeders actually","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2027.83,2032.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/672","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"sell their cattle, the largest four packers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2032.92,2035.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/673","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on average accounted for 67% of the steers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2035.85,2039.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/674","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and heifers slaughtered in this same year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2039.01,2041.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/675","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think the same pattern occurs across other commodities.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2041.483,2046.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/676","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Then in those local markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2046.53,2047.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/677","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you have much higher concentration","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2047.94,2050.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/678","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than at the national 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exchange.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2054.78,2059.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/681","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is it via public markets, auctions, terminals, and so on?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2059.45,2064.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/682","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is it direct marketing or some form of integration?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2065.49,2070.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/683","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then third, how is price determined?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2070.4,2073.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/684","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are price prices largely set by government programs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2073.01,2076.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/685","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"estimated by a private price reporting service","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2076.21,2079.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/686","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"such as Urner Barry does for eggs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2079.64,2082.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/687","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or discovered in public and private market transactions?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2082.09,2086.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/688","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The nature of producer first-handler exchange","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2086.56,2088.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/689","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"varies from commodity to commodity","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2088.89,2090.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/690","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and can have a major influence on the ways","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2090.46,2092.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/691","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the extent to which monopsony buying power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2092.7,2094.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/692","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can be exercised.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2094.94,2095.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/693","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A few examples may help.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2095.86,2097.713"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/694","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Fed cattle are mostly sold directly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2098.7,2100.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/695","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by feedlots to packer buyers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2100.88,2103.133"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/696","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Terms are negotiated between seller and 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Wisconsin.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2367.26,2368.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/785","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And this was important because the M-W price","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2368.89,2371.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/786","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is widely used as a reference price throughout the country.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2371.51,2374.863"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/787","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The marketing order system for determining blend prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2377.91,2380.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/788","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"paid to grade A milk producers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2380.97,2382.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/789","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the strong decision of farmer cooperatives","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2382.85,2385.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/790","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think limits any monopsony power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2385.38,2387.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/791","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that may exist in great A markets.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2387.2,2388.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/792","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, these little vignettes illustrate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2390.19,2392.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/793","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the numerous factors that should be considered","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2392.62,2395.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/794","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in trying to assess monopsony power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2395.06,2397.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/795","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and produced first-handler markets.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2397.38,2399.163"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/796","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let me just make a few summary 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price,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2615.2,2617.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/869","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but also large feed last tend to have","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2618.83,2620.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/870","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"much better market 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feedlots.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2626.01,2629.023"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/873","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Packers often operate across several","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2630.5,2634.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/874","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"geographic markets areas","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2634.23,2635.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/875","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and usually have an informational advantage over farmers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2635.75,2638.923"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/876","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If we look at processes of fruits, vegetables, and nuts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2641.2,2643.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/877","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they probably fall in between these other two groups","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2643.7,2647.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/878","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I'm talking about.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2647.41,2648.243"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/879","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They probably have less monopoly power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2648.243,2652.367"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/880","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and selling to consumers than breakfast cereals","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2652.367,2655.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/881","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and soft drinks, but more than, than beef and pork","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2655.31,2658.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/882","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and similarly with monopsony power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2658.49,2661.663"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/883","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, although relatively few studies have examined","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2663.09,2665.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/884","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"producer first-handler markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2665.62,2667.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/885","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to determine the effects, if any, of buyer concentration,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2667.07,2670.283"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/886","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"these studies have generally found high buyer concentration","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2671.6,2674.947"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/887","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a negative relationship between buyer concentration","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2674.947,2677.667"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/888","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and prices paid to farmers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2677.667,2679.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/889","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These results are consistent with the predictions,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2679.75,2681.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/890","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the economic theory when competitive sellers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2681.81,2684.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/891","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"sell to oligopsonistic buyers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2684.73,2687.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/892","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Most farmers are hurt when they sell","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2687.57,2689.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/893","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in non competitive markets.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2689.7,2691.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/894","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The impact may be relatively small","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2691.15,2693.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/895","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when compared to other factors.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2693.16,2694.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/896","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"However, it probably does affect the survival","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2694.97,2697.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/897","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of some family farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2697.7,2699.243"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/898","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, how are we doing time wise?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2701.38,2704.954"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/899","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Speaker 2:\u003c/strong\u003e About 10 more minutes, may be.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2704.954,2706.293"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/900","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Bruce:\u003c/strong\u003e 10 more minutes, okay.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2706.293,2708.343"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/901","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Just briefly, one of the other areas","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2712.897,2715.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/902","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's worth mentioning is transportation industries.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2715.73,2718.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/903","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And with deregulation of the railroad industry,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2718.4,2722.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/904","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there's been a substantial change.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2722.26,2724.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/905","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And a recent study was done","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2724.75,2727.086"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/906","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that showed that where there are only one rail","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2727.086,2732.086"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/907","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or two, where there's relatively little competition,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2732.288,2736.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/908","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"rail rates are higher as you would expect.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2736.44,2740.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/909","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So farmers in those regions,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2740.22,2741.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/910","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this is particularly true in those parts of the country","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2741.98,2744.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/911","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that don't have access to water to barges,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2744.97,2748.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/912","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"farmers in those regions are probably going","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2748.72,2752.478"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/913","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to end up receiving lower prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2752.478,2754.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/914","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because of the higher rail rates.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2754.86,2756.883"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/915","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've got a section in here on the impact of large firms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2760.39,2763.813"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/916","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Large firms, Lauren mentioned this morning,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2764.75,2769.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/917","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"large firms prefer to","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=2770.2,2772.46"}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430","type":"AnnotationPage","label":{"en":["English [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31430/annotation/918","type":"Annotation","motivation":"subtitling","body":{"type":"TextualBody","value":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/031/430/original/AV203660_Is_the_Family_Farmer_Being_Squeezed_out_of_Business_by_Monopolies_a.vtt?1627045984","format":"text/vtt","language":"en"},"target":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/031/430/original/AV203660_Is_the_Family_Farmer_Being_Squeezed_out_of_Business_by_Monopolies_a.vtt?1627045984"}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31431","type":"AnnotationPage","label":{"en":["AV203660_Is_the_Family_Farmer_Being_Squeezed_out_of_Business_by_Monopolies_a.txt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276/transcript/31431/annotation/919","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"- [Speaker 1] That it's gotten so that other congressmen and senators now feel that they should not support that whole Agricenter because they feel that it's been used by Atkins to move his own bill and not altogether above board. You see that model originated from USDA.\r\n\r\n- [David] My name is David Klein. I'm in the philosophy department and I'm going to introduce the speakers for you today. Prior to that, I want to remind you about the rest of the program. This evening at 8 o'clock, the two speakers we have now will be reversed. They'll talk again tonight, with Luther Tweeten giving the main talk that will be in the sun room. Tomorrow in this room, John Hart will speak. The title of his paper is Catholic Theology and capitalist Agricultural Economics, one view. And then later in the evening at the 8 o'clock session, Michael Novak will give a talk by the same title, another view. The procedure will be for professor Marion to speak for a while and give his paper. And then I'll introduce professor Tweeten and then we'll have a question \u0026 answer discussion period. Bruce W. Marion is professor of Agricultural Economics at the University of Wisconsin. He received his PhD in Agricultural Economics from Ohio State University in 1963. From 1974 to the end of 85, he was director of Project 117. Title of that project is The Organization and Control of the U.S Agricultural Production and Distribution System. This project proved to be very rich project indeed producing numerous books and scholarly articles. The title of Dr. Marion's paper this afternoon is, Is the Family Farmer Being Squeezed Out of Business by Monopolies. Come here.\r\n\r\n- [Bruce] I noticed that the crowd is cramped off a little this afternoon, showing that in general folks prefer preaches to economist, which I think probably is pretty good judgment. Preachers usually have more interesting things to say than economists. When Gary Comstock suggested this title, Is the Family Farmer Being Squeezed Out of Business by Monopolies, I thought it was a bit of a red herring, but I thought I could live with it. Well, this is my third version of the paper, and it's proved to be a frustrating undertaking because as stated the titles sets up a straw man, that's fairly easy to shoot down. And that diverts attention from questions that should be asked. Monopoly power in large firms and the two are not necessarily synonymous, probably do contribute to the forces, causing a decline in the number of family farms. However, in my judgment they are relatively minor contributors to the problem and maybe more difficult to do something about than other causes. Now, if it's any comfort to those who came up with the title, I would say that they're also a few economists running around who has had the other extreme point of view that all markets are competitive, we can just keep government out of them. And so, you know, I think both are at sort of extreme positions. The NC 117 research that was mentioned revealed that monopoly power is an important problem in many parts of the U.S food system. It results in consumers paying billions of dollars more per year for food and related products. But monopoly power that impacts consumers, which has been fairly well documented, does not necessarily translate into monopoly power that affects farmers. To answer that question, which is the title to this paper. one has to attract through the extent to which non-competitive markets are resulting in a decline in the family farm. And there's really very little empirical evidence on this issue, but based upon the research that we did, as part of NC 117, I find no evidence that a conspiracy exists to drive family farmers out of business. And the evidence also does not support the notion that non-competitive markets are a major factor in causing the demise of family farmers. It seems to me that the more relevant questions are these, do some farmers receive sub competitive prices for their output and/or pay supra competitive prices for inputs? And if so, how does this affect the structure of farming or what are the factors affecting the evolving structure of U.S agriculture and particularly the decline and family-size farms? Do large firms and the input supplier product marketing system with or without monopoly power affect the survival of the family farm? And third, what happens to farms that go out of business? Are they bought my new family farmers, absorbed by existing farmers, left idle, purchased by non-farm investors or what? Because, you know, this affects the evolving structure of a family farm. And then finally, what, if anything can and should be done to reduce the decline of family farms? Non-competitive markets had been a long time concern of economist and policy makers since they result in inefficient resource allocations and an equitable distributions of payments to factors of production. 'Cause non-competitive markets are a legitimate concern, whether or not they cause major restructuring of industries. And in agriculture, there's been a long history of concern about non-competitive markets. The whole co-op movement was primarily driven by concern that farmers were vulnerable to non-competitive markets, either in the supply of inputs or on the sale of outputs. Gary and Lauren were sharing their early childhoods this morning and I can't help when I read this. Remember that I think one of the first times that I got exposed to some idea about market power was in my grandfather's farm in Upstate New York. He had a dairy farm. He was a very strong supporter co-ops because he had the strong feeling that he was vulnerable in the marketplace if he didn't have cooperatives as an option to sell this milk to. And so it's where some of my pocket of this tendencies come from. Well, let me consider the logic of how, and to what extent large firms and/or monopoly power might affect the number of family farms. I think there are two ways of casting the question. First, are large firms are monopoly power negatively affecting the survival of currently existing family farms? You know, ones that are out there right now. And second, will large firms and or monopoly power affect the future structure of farming and especially the number and size of family farms. I think, you know, if we look the time period we're looking at of different and how we size the situation up. For current farmers, and in the short run, you know, this year, anything that reduces their income or increases their expenses can affect the ability to survive. So if non-competitive markets or multinational firms reduce the prices of farmers in certain areas or certain commodities, or increase the cost of inputs of some farmers, it may affect their survival. But does this necessarily affect the future structure of farming? Economists have studied the things that determine the number and size of firms in an industry, in a large number of industries, probably some other industries, more than farming. And there's some important factors that we usually try to consider. One is economies of scale in production. Given the existing technology, how big do you need to be to be efficient? And as Lauren said this morning, most of the evidence in agriculture for agricultural production is that you don't have to have a real large farm to achieve all the economies of scale available in production. Second, the economies in procurement and/or marketing, and here the evidence is it that there are some economies beyond probably the size necessary in production. And I think this is true in farming, and it certainly is true over in the marketing system. They're tremendous economies in advertising and promotion for example. And this is one of the things that drives large farms to continue to get bigger in the food manufacturing areas are some of the economies and advantages in the marketing area. And third, this economies, you know, is there any upper bound where costs begin to increase and hence your farm is not going to grow beyond a certain size? Well, these things which are usually, I mean, we're mainly focusing here on economies of scale, technology, these types of fundamental, natural economic forces they tell us something and they usually explain part of how an industry is organized. But most studies reveal that they only partially determine the structure of industries. Usually there's a wide variety here from sizes, some much larger than necessary to achieve economies. Some much smaller that somehow survive. Usually a number of other factors can be identified such as mergers or industry consolidations, simply superior management or luck, you know, that affects this distribution of farms. Thinking in agriculture as I said, the evidence is that, for example, corn-soybean farm in the Midwest needs to be someplace in the area of 400 acres to call in the USDA or 300, I'm sorry. Let me look at my notes. Their estimate for 1979 was that a 300-acre corn-soybean farm, according to Bell would achieve 90% of the economies attainable, 640-acre farm would achieve all economies. I think that they're focusing in on production economies. There may be some economies from beyond that, but you know, we're not talking about small farms, we were also not talking about huge farms. And in most commodities, this is the way it tends to come out. And if we look at the structure of farming, we find this array, you know, of ranging from very, very large farms down to small farms that even though they're too small to really be efficient according to our definition, they're still able to survive. Farms may be marginal for a variety of reasons. It's only some of which are related to efficiency. They may be too small. They may employ inefficient technologies, maybe located in areas where soil fertility and climate result in high costs. They may have poor management. They may receive sub competitive prices for the output. They may have expanded at the wrong time, or some combination of factors. Marginal farms may survive for a long time if they have a little debt or have significant off-farm income. In the present time, the survival of even the efficient family farms is heavily influenced by their debt burden and off-farm income. Now let's come back to the question of whether for large farms and not monopoly power affect the long run numbers and size of farms. If monopoly power results in some current marginal farmers going out of business, will this affect the future number of farms? And to answer this, we really need to know these things. Of the farms going out of business, how many are simply too inefficient to survive in the long run, you know. Even if they're able to survive this year, they're going to go out next year. And how many could survive in the long run, but for a temporary crisis, trying to get through this current financial crisis or non-competitive prices for outputs or for inputs. And then we need to know what happens to the second group of farms. Those who could survive if they got competitive prices, or if they were able to make it through a temporary crisis. Are those farms purchased by new farmers? And if they are, then you don't have any decline in farm numbers or are they purchased by existing farmers who are already a large enough to survive, which is probably the more likely case today that when you have consolidation, it's usually the larger efficient farms that are acquiring the ones that are going out of business. At least that's my gut instinct. I don't know as I've seen any data But in the latter case, when farms go out of business, that didn't have to go out of business for efficiency reasons, then you do have a decline in farm numbers. I don't feel very well equipped to answer, you know, these questions. And to my knowledge, there's been no study done to try to study the evolution of the farm structure from this standpoint, to try to track it over time, you know, what happens when farms do go broke? But I do believe that there's some logic for believing large firms and monopoly power are having a modest negative impact on the survival of current family farms. And will have some influence, albeit not major on the future structure of farming. However, there's little question in my mind, but that other factors are the major determinants of current farm survival and future farm structure, including macro economic policies, government farm programs and tax policies, volatility and commodity production and prices, variations in the cost of major inputs, such as interest rates, feed, fertilizer, and when individuals bought or expanded farms. On addition, any assessment of farm structure must also consider the extent to which something can and should be done to alter current trends. So even if we find that non-competitive markets are having some effect, we've got to ask the question, can we change it, can we do anything about it? And in some cases we can't, you know, the cash grain farmers up in Northwestern Wisconsin have only a couple of elevators to sell to. They don't have very many options. But the main reason is there's not much cash grown grain growing up there, and it's going to be pretty hard to get effective competition in an area like that. So we also have to be realistic in assessing what can be done about the situation. Let me turn my attention now to the issue that I want to concentrate on the rest of the paper, and that is what leads to monopoly power? How can we recognize it when we see it? And you know, where does it lie within the food system? There's been considerable research to identify those factors that are associated with monopoly power. And there's rather strong evidence that the structure of markets, that's an economists term, structure of markets, largely determines the degree of monopoly power. And there's three elements of a market structure that are particularly important. One is the concentration of business done by the largest buyers and sellers. Gary this morning was talking about the largest four sellers of tractors did this percent of the business and so on. Well, that's one of the ways we try to measure this, is to look at what percent of the business did the top four farms do, or in some cases, the leading farm. If there are only a few buyers in the relevant market, there may be monopsony power. And if there are only a few sellers may be monopoly power. And generally where one or a few farms dominate a buying or selling side of a market, competitive forces tend to be less intense and that's with or without explicit conspiracies. Second element of market structures product differentiation and the main question here is the extent to which products being sold by different farms are perceived as close substitutes by customers. When you go to the grocery store and you buy grade A eggs, it really doesn't make any difference to you if you're like my wife and I, who packed them, you know, grade A eggs are grade A eggs. The brand doesn't affect how you value that product. This is quite different from the situation with beer or with cigarettes, we'd rather fight than switch or with soft drinks or hybrid sweet corn where they're definite brand preferences and brand product differentiation. The product are not seen as close substitute. So the second element then is product differentiation that tells us something about structuring the market. And third is barriers to entry and some of the strongest barriers to entry of new firms are the result of government actions. For example, in New York city taxi cabs must buy a permit to operate. These permits now sell on the open market. I'm told for around $30,000. Most other cities have avoided such a requirement and enjoy lower cab fares as a result because it's easy for new taxi cabs to enter the market. You don't have to buy a $30,000 ticket to get into the industry. For years in the dairy industry, health and sanitation laws prevented milk from moving across geographic markets. And in fact, we've adjust. I guess if throwing out a law now that ban New Jersey milk from flowing into New York city. Well, these types of government regulations are a type of entry barrier. They keep firms or products from moving into industries. But the characteristics of the industry may also result in entry barriers and in food manufacturing, the most important entry barrier in many industries is that the product differentiation, which is usually synonymous with strong brands. Imagine if you will, the difficulty of firm trying to enter the soft drink industry and taking out on Coca Cola and Pepsi head on. In situations like these, where there are strong brands, it's extremely difficult and expensive to woo customers to a new brand. And so entry barriers are very high. Other things that affect entry barriers are, if there are a large resources are required to enter an industry, or if a large market share of the market, a large share of the market is required to achieve economies of scale that makes entry difficult. And the competitive response of established firms can raise entry barriers. When Procter \u0026 Gamble decided to penetrate Eastern markets with its Folgers brand of coffee, General Foods, they're likely to go head-to-head with them, to stop them and to protect the dominant market share position of their Maxwell House brand. Well, the main losers in cases like that, where you have two giant firms hitting head are the small firms, and that's what happened in this case, small coffee companies went out of business. Both Folgers and Maxwell House gained market share. So the reactions of the firms that are in the market can have a big impact on entry barriers. Well, these are the three elements of market structure, market dominance, or concentration, product differentiation, and barriers to entry. And these are the major factors that determine the degree of monopoly power. So if we're trying to study any particular market these are the three things that we immediately begin to focus on. The extent to which sellers sell to well-informed buyers or vice versa also affects the level of monopoly power. And I will have something to say about that a little bit later, in terms of the simplification for farmers. Now, a large number of empirical studies have examined the relationship between these three structural characteristics of markets and various measures of market performance. And the things that we usually use to measure how well the market is behaving are things like price levels, technical efficiency, technological progressiveness, you know, innovations, new research and developments on the impact of inflation and even such matters as employment, discrimination, environmental pollution. The economists are a creative group sometimes, but a particular relevance to this paper is the question of whether highly concentrated selling markets tend to have higher prices. And whether they're highly concentrated, buying markets are characterized by low prices because that's one of the issues, you know, that we're dealing with is where you have concentrated buying markets that tend to result in lower prices and vice versa on the selling side. Well, until the last 10 years, there were a few studies that have examined concentration price relationships. However, there are now over 50 studies that show a surprisingly consistent positive relationship between seller concentration and prices. The relationship holds for a wide range of industries, grocery retailing, gasoline retailing, prescription drugs, cement, life insurance, offshore oil, leases, bond underwriting, mortgage interest rates, checking service charges, airline fares, rail freight rates. The results indicate that high concentration is generally accompanied by moderate to high entry barriers. And it also indicates that like a negative-slope demand curve, a positive relationship between concentration and prices is the norm, not the exception. Are there benefits from non-competitive markets? Question. A frequent defense of concentrated industries, is that they're more efficient and technologically more progressive. And we've heard some rhetoric from the President and his administration that they also would help us in the export area. That if we had concentrated a lot of greater concentration of some of our industries it would be more effective in export markets. One of the leading disciples of this efficiency notion is Demsetz who's in Chicago School. And he, Demsetz, argues that we must have faith that market structures resulting from unrestrained competition are efficient market structures. Well, a large body of empirical research does not support the notion that you need to have concentrated industries to be efficient and technologically progressive. While small firms may be less efficient and less progressive than medium-sized firms, research indicates that in most industries, large firms and larger market shares are not necessary to achieve efficiency and progressiveness. A moderate size firms seems to have an advantage on both scores. And indeed there's a fair amount of evidence that large firms with substantial market powers suffer from bureaucratic rigidities, bloated costs and market unresponsiveness. And I think the U.S automobile industry is a good case in point. The above discussion is focused on power within markets or market power. Power that's the only part of the picture. Another dimension of economic power is the absolute size of firms and the extent to which they operate in several markets. Large firms usually have market power and some of them, however, their potential impact stems in part from the large resources that they command and their multi-market characteristics. And Gary talked a little bit about that this morning and the ability to cross subsidize or trade one area off against another that's one possibility. And seeing just the large resources that very large multi-market firms have mean that they have greater staying power in any battle with competitors. The illustration that I gave of General Foods and Procter \u0026 Gamble, their resources allow them to outspend, out lose and outlast smaller firms. In the food manufacturing industries, what we find is that the largest 200 companies, this is 1% of all the numbers, 'cause there's 20,000 food manufacturing company, the largest 200 accounted for 49% of the U.S food manufacturing in 1954, by 1977, this had increased to 64%. That's your top 200 companies. And in food manufacturing, large firms and market power are closely related. This is not always the case. You can have large firms that don't necessarily have market power, but in food manufacturing, they tended to go hand-in-glove. In food manufacturing there have been well, something like probably 15 or 20 studies that have found that market power in food manufacturing is particularly related to the concentration of the industry, how concentrated is it and product differentiation as measured by advertising. So those industries' high levels of advertising and that are highly concentrated tend to have a fair amount of market power. In 1982, the 100 largest advertisers of food did 92% of all media advertising. Well, that's an important source of market power, the largest 100 companies have most of it. And the 100 largest company food manufacturer held particularly strong positions in those industries that had high advertising and were highly concentrated. The combination of large size and market power in many markets makes large food manufacturers an awesome force to contend with. Smaller food manufacturers generally concentrate on producing private label and on branded products or attempt to find a market niche, not occupied by the big companies. Okay, well, how prevalent is monopoly power and how does it affect farmers? As I indicated previously, it's important to distinguish between monopoly power that affects consumers and monopoly power that affects farmers. And let me first, that I'll be covering this briefly on monopoly power that affects consumers. Many parts of the food marketing system are relatively competitive. However, there are important markets where the engines of competition are either stalled or throttled down, part because of data availability, on monopoly power that affects consumers has been studied to a much greater extent than monopoly power that affects farmers. For example, monopoly overcharge the consumers in the mid 70s were estimated about 12 billion in food manufacturing by Parker and Connor, and about 625 million in food retailing, by studied that we did. Monopoly power is, as I said, positively related to industry concentration level of advertising. And the two, if you look at these industries, the two are closely linked. The industries that are highly concentrated and increasing in concentration are also those industries with very high levels of advertising. For example, at the upper tier, we find chewing gum, cigarettes, breakfast cereals, ready-to-eat desserts, concentrated coffee, canned soup, bottled, and canned soft drinks. This is the cluster of industries that we'd say based upon their structural characteristics they have a whole lot of market power. And then at the other extreme, those industries that are unconcentrated also tend to do very little advertising. And so what we find down there is fresh beef, fresh pork, broilers, cheese, butter, frozen vegetables, commodity-type industries with little advertising, and that are relatively unconcentrated. And that this pattern within the food industry that concentrated industries tend to be highly advertised industries, we also find the same pattern across all of manufacturing that the industries with high levels of advertising tend to be highly concentrate and to be increasing in concentration. Well, this type of analysis gives us some idea of the extent to which consumers may be paying prices above competitive level and for what products, but it gives us a little insight into the impact on farmers, you know. So soft drink manufacturers are making a lot of money. What sort of repercussions, if any, does that have on farmers? And to determine this, we need to look at the market it's in which farmers sell their goods. Farmers don't sell their products to the national markets, they usually sell their output to buyers within 100 or 200 miles of the farm. And whether the buyer is a grain elevator , meat pack or a dairy cooperative, a sugar refiner, or a broader integrator. So farmer first-handler markets are inherently local in nature. National concentration figures for food manufacturing industries may give us a little idea of the level of buyer concentration in those local markets. For example, 1980, the largest for beef slaughters in the U.S accounted for 39% of all steers and heifers slaughtered, but in the 13 regional procurement markets, which is more closer to where the feeders actually sell their cattle, the largest four packers on average accounted for 67% of the steers and heifers slaughtered in this same year, I think the same pattern occurs across other commodities. Then in those local markets, you have much higher concentration than at the national level. The second thing to look at though is the nature of farmer first-handler exchange. Is it via public markets, auctions, terminals, and so on? Is it direct marketing or some form of integration? And then third, how is price determined? Are price prices largely set by government programs, estimated by a private price reporting service such as Urner Barry does for eggs or discovered in public and private market transactions? The nature of producer first-handler exchange varies from commodity to commodity and can have a major influence on the ways and the extent to which monopsony buying power can be exercised. A few examples may help. Fed cattle are mostly sold directly by feedlots to packer buyers. Terms are negotiated between seller and buyer when the cattle are ready for slaughter. You don't have forward contracting in advance like you're doing some other commodities. Fed cattle are sold to markets are largely free of any government intervention to affect supply or to affect prices. And farmers don't have the option of storing cattle, at least not for very long, you know, when the cattle are ready for market, they're going to go within a fairly short period of time. They have some flexibility, but in this environment price and the other terms of trade are vulnerable to influence where buyers have monopsony power. Now contrast this with the feed grain and wheat markets. Farmers may face relatively few buyers for their grain, especially in the fringe production areas, but farmers are given some protection against monopsony power by government programs. For wheat and feed grains, the government programs establish loan rates and target prices, which are really the major determinants of the returns received by farmers enrolled in the programs. They determine whether you receive 250 or 150, you know, in terms of magnum shifts in price. Monopsony power in these markets may still affect farmer prices to some extent, and can affect other terms of trades, such as storage and drying charges, grading and methods calculating shrinkage. And monopsony power can have considerable influence on the price is received by the large number of small farmers who are not in these programs. But for those farmers and the programs, which counts for roughly 80 to 90% of the acreage, a monopsony power to the extended like this likely has a minor influence on farmer returns when the influence of government programs is considered. Processed fruits and vegetables, processed foods, specialists in nuts, involve yet another type of exchange between farmers and processors. Annual crops, vegetables plus strawberries for the most part frequently involve production contracts that are negotiated with a firm price before planting time. So prior to planting the farmer knows what he's going to be receiving. Processors often provide the seeds, specified cultural practices, monitor the field fields for disease or insect problems, determine harvesting time and often do the harvesting. Marketing contracts, which are simply a contract for forward for sale in advance of harvest are more commonly used for perennial crops, asparagus, fruits, and the nuts. And here prices and quantity are negotiated sometime prior to harvest. In these commodities, farmer bargaining associations, marketing cooperatives, and marketing orders are important and tend to reduce processors' buying power. However, many farmers still negotiate contracts directly with processors. And there is some evidence that contract terms are more favorable for farmers where there are more processor buyers. Producers of annual crops, annual fruits and vegetables are somewhat protected by the option to plant their land or their crops that is unlike feedlots, broiler houses, dairy farms, or perennial fruits and vegetables, which assets are pretty much committed to producing a particular commodity for several years, annual crop producers can often switch to another commodity if monopsony exploitation becomes too severe. Producer first-handler exchange in dairy is unique because of the dominant role of cooperatives, which handled about three fourths of all milk in 1983 and a complex system of price supports and marketing orders to determine prices. Although this commodity has its share of competitive problems including several antitrust cases against cooperatives, producer-first handler markets appear to be quite competitive and particularly for manufacturing grade milk in Minnesota and Wisconsin. And this was important because the M-W price is widely used as a reference price throughout the country. The marketing order system for determining blend prices paid to grade A milk producers and the strong decision of farmer cooperatives I think limits any monopsony power that may exist in great A markets. Well, these little vignettes illustrate the numerous factors that should be considered in trying to assess monopsony power and produced first-handler markets. Let me just make a few summary observations. Several food manufacturing industries have substantial monopoly power and selling to consumers. These tend to be industries in which agricultural commodities are used as ingredients to make highly processed, highly advertised products. You know, the soft drinks and the cereals and beer and so on. Food and feed grains, oil seeds, sugar, and tobacco are the major inputs into these industries. However, these industries utilize a fairly small proportion of total U.S production of food and feed grains and oil seeds since the majority of those commodities are either export or used for feed. Firmer prices for these commodities are predominantly influenced by factors other than monopsony power. Things like government programs, import quotas and international trade. Monopsony power may injure farmers in some local markets, but it's likely to have a relatively small influence on farmer prices. Thus, the monopoly power that the breakfast cereal, soft drink and other industries have in selling to consumers is not translated into monopsony power that is buying from farmers. Now let's look at another group. For beef packers, pork packers, and broader processor, these industries appear to operate in relatively competitive markets as sellers. They don't have a whole lot of market power assigned to consumers. However, in the buying side, all operate in highly concentrated local markets in which varying degrees of monopsony power appear to be present. There are no government price support or other programs that substantially restrict the impact of monopsony power. The study that was mentioned this morning, and we did at university of Wisconsin found that in those regions, which few packers slaughtered most of the cattle prices for cattle were substantial lower We estimated that in the major producing regions, that market about two thirds of U.S fed cattle, cattle feeders received 24 to 47 cents, less per hundredweight than they would have with more competitive markets. Now, this is certainly a significant, you know, we're talking about 40 to $80 million that farmers could have received but didn't. However, it also needs to be kept in perspective. During the 1970s, Iowa-fed cattle prices ranged from $32 to $68 per hundredweight. The lower price is attributable to monopsony power where roughly 1% of the swing and cattle prices. So, you know, it has an effect but it isn't the thing that compared to the big swing in prices, it looks pretty, it looks pretty small. Pork and broilers have experienced the similar or greater variations in prices. And I have no evidence that monopsony power played a significant role in the national price cycles in these other commodities. Now our cattle study did reveal that small cattle feeders generally received lower prices than large feedlots. And this could stem from two factors. One, it's cheaper for packers to call on one feedlot and buy 500 heads than it is to call on 10 feed lots and buy 50 head each. And that may be reflected in the higher price, but also large feed last tend to have much better market information because they may be better negotiators with the packers than small feedlots. Packers often operate across several geographic markets areas and usually have an informational advantage over farmers. If we look at processes of fruits, vegetables, and nuts, they probably fall in between these other two groups that I'm talking about. They probably have less monopoly power and selling to consumers than breakfast cereals and soft drinks, but more than, than beef and pork and similarly with monopsony power. Well, although relatively few studies have examined producer first-handler markets to determine the effects, if any, of buyer concentration, these studies have generally found high buyer concentration and a negative relationship between buyer concentration and prices paid to farmers. These results are consistent with the predictions, of the economic theory when competitive sellers sell to oligopsonistic buyers. Most farmers are hurt when they sell in non competitive markets. The impact may be relatively small when compared to other factors. However, it probably does affect the survival of some family farms. Now, how are we doing time wise?\r\n\r\n- [Speaker 2] About 10 more minutes, may be.\r\n\r\n- [Bruce] 10 more minutes, okay. Just briefly, one of the other areas that's worth mentioning is transportation industries. And with deregulation of the railroad industry, there's been a substantial change. And a recent study was done that showed that where there are only one rail or two, where there's relatively little competition, rail rates are higher as you would expect. So farmers in those regions, and this is particularly true in those parts of the country that don't have access to water to barges, farmers in those regions are probably going to end up receiving lower prices because of the higher rail rates. I've got a section in here on the impact of large firms. Large firms, Lauren mentioned this morning, large firms prefer to","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120276#t=0.0,2777.304"}]}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277","type":"Canvas","label":{"en":["Media File 2 of 2 - 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[Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e We wouldn't have near as many farmers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=5.46,6.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/2","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the broader business today,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=6.81,8.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/3","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if we did not have vertically integrated firms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=8.03,10.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/4","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that helped develop the demand","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=10.49,12.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/5","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and develop very efficient,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=12.84,14.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/6","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"low price types of system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=14.44,17.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/7","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so in that, in broadest you gotta say","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=17.01,20.397"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/8","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"integrators largely built the market.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=20.397,24.293"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/9","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But then the fourth possible impact of large firms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=25.89,30.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/10","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is where they have multinational operations,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=31.47,33.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/11","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"multi area types operations,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=33.94,36.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/12","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a good example of this is Stokely USA,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=36.99,40.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is headquartered in Wisconsin.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=40.33,42.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it's not a big firm by the standards","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=42.72,46.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/15","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when you start comparing it to other firms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=46.66,48.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/16","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but we had the president over to the department","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=48.14,52.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/17","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"last year and he was talking about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=52.34,53.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/18","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the question of buying broccoli for freezing.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=53.85,57.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/19","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And he said, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=57.58,58.413"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/20","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm looking at Wisconsin at California","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=58.413,61.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/21","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and at Guatemala.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=61.66,62.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/22","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And he said, what I can buy for $25 in California,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=62.68,66.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/23","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I can buy for $5 from Guatemala.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=66.95,69.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/24","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the...","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=69.44,71.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/25","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well from his standpoint, running a business,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=73.23,75.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/26","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you can't blame him for going to Guatemala,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=75.66,78.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/27","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but in terms of the impact on farmers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=78.17,80.633"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/28","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there are two impacts.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=81.61,82.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/29","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One is if he buys some Guatemala,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=82.48,85.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/30","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some farmers are not gonna be growing broccoli","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=85.97,88.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/31","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that otherwise couldn't US.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=88.87,90.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/32","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And secondly, that it's a lever","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=90.73,92.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/33","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that he can use in negotiating with,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=92.07,94.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/34","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Wisconsin or California farmers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=94.7,96.603"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/35","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So this is one of the possible impacts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=98.39,102.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/36","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"also large firms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=102.4,103.863"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/37","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When we look at the five that at the input side,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=105.93,110.093"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/38","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm not going to try to say too much","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=112.8,114.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/39","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because essentially the bottom line on it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=114.89,116.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/40","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as I look at it is that there are","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=116.75,118.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/41","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"three industries that I would have","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=118.43,120.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/42","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some concern about farm machinery.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=120.11,122.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/43","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And right now, farm machinery,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=122.47,124.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/44","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"pretty hard pressed to say there's monopoly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=124.19,126.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/45","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"any monopoly profit there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=126.32,128.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/46","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I do have concerns about that industry","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=128.23,131.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/47","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the long run, because there's been tremendous","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=131.06,133.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/48","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"consolidation, but right now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=133.37,136.043"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/49","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I know how to push argument very far,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=137.968,139.818"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/50","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the hybrids seat business and pesticides.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=140.73,145.183"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/51","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that those are the ones","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=146.268,147.101"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/52","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that structurally we'd expect to have","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=147.101,148.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/53","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some monopoly power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=148.44,151.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/54","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or possible future monopoly power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=151.04,153.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/55","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the hybrid seed and the pesticide industries","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=153.42,156.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/56","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"test it, the monopoly tends to be related to","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=159.43,162.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/57","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"new development of new seeds or new pesticides.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=162.52,166.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/58","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And at this point in time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=166.29,171.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/59","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't see a lot of options.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=171.07,173.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/60","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"On the one hand you wanna encourage R and D","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=173.18,174.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/61","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you wanna encourage pioneer develop","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=174.74,176.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/62","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"new varieties of seed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=176.84,177.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/63","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if you're gonna do that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=177.87,178.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/64","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then of the things we've at least said,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=178.77,181.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/65","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we'll do in this country is to allow patents.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=181.3,184.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/66","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And you give...","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=184.32,185.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/67","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So you give a firm, a monopoly on a product for 17 years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=185.71,190.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/68","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that is a major source of the monopoly power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=190.64,195.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/69","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's in hybrid seeds and pesticides.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=195.48,199.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/70","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that if there's a place where","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=199.3,203.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/71","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there may be some lack of competition,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=203.14,205.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/72","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the input in areas,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=205.08,206.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/73","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that it may be at the retail level,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=206.21,207.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/74","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"between farm supply, retail outlets.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=209.54,213.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/75","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Some research has shown","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=213.0,214.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/76","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there've been, I think three or four studies","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=215.754,218.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/77","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in this area that for very standardized products","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=218.02,221.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/78","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like soybean oil meal and so on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=221.22,225.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/79","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that that there's a substantial range","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=225.0,227.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/80","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in prices at different farm supply outlets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=227.53,230.773"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/81","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like 30, 40%.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=231.84,234.073"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/82","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So there's something that's...","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=235.94,239.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/83","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think part of this is related","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=239.32,240.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/84","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to question of information.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=240.61,242.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/85","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, if farmers did more checking,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=242.26,243.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/86","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"did more searching and did a better job","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=243.96,246.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/87","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of policing their various farm supply outlets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=246.76,250.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/88","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they keep these stores more in line.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=250.76,252.723"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/89","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Okay, conclusions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=255.19,258.263"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/90","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The foregoing reflects my judgements,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=260.93,263.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/91","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in some instances they're based on","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=263.37,265.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/92","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"solid research and others on little research.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=265.46,270.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/93","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But if I'm correct,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=270.19,271.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/94","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there are numerous loci of monopoly power,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=271.52,274.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/95","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"monopsony power or conglomerate power,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=274.61,277.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/96","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"scattered throughout the food system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=277.08,279.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/97","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't perceive any of these","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=279.75,281.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/98","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as having a major role","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=281.35,282.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/99","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in squeezing farmers out of business.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=282.58,285.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/100","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The collective impact on farming","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=285.17,287.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/101","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"incumbent on marginal farmers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=287.51,289.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/102","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is difficult to estimate.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=289.27,290.523"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/103","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I see relatively little to get excited about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=293.57,295.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/104","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the farm input manufacturing industries,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=295.9,298.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/105","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there maybe more problems among prime supply retailers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=298.85,302.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/106","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Large firms and monopsony power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=302.63,304.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/107","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in commodity marketing systems,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=304.38,306.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/108","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think justify more concerns.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=306.18,308.803"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/109","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I believe they may have a modest negative effect","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=310.14,312.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/110","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on current and future family farms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=312.71,314.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/111","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"sub competitive prices in some areas","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=314.95,316.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/112","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"may be the margin that pushes","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=316.96,318.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/113","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some family farms out of business.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=318.64,321.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/114","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"At the same time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=321.0,321.833"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/115","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I recognize that there are probably","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=321.833,323.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/116","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"many other marginal factors also,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=323.36,325.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/117","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that might make a difference for these firms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=325.47,328.423"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/118","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Large marketing firms are increasing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=329.93,333.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/119","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the marketing economies of scale in farming.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=333.46,336.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/120","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A market access for small farmers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=336.97,339.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/121","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has declined in some commodities in some areas,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=339.1,342.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/122","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the extent that large firms prefer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=342.28,344.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/123","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"large farms for efficiency or quality reasons,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=344.94,348.585"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/124","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(clear throat)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=348.585,349.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/125","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I have difficulty objecting to their behavior.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=349.51,352.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/126","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I have more concerns where large firms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=352.17,354.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/127","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"operate in non-competitive markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=354.27,356.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/128","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or are able to play one supplier area off","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=356.58,359.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/129","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"against another and drive down farmer prices.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=359.44,362.533"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/130","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In an economic system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=364.98,366.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/131","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that relies heavily on markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=366.12,367.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/132","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"evidence of significant monopoly power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=367.72,369.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/133","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"should always be a source of concern.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=369.56,371.523"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/134","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In some cases however, there are limited options","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=372.39,374.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/135","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for trying to reduce monopoly power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=374.87,377.203"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/136","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Merely possessing monopoly power is not illegal.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=378.37,382.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/137","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The antitrust laws make it illegal certain actions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=382.08,385.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/138","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that may lead to monopoly, such a prediction","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=385.36,388.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/139","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and some mergers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=390.17,392.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/140","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But achieved in a fair 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competition,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=545.0,547.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/199","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or sometimes problems in commodity markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=547.02,549.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/200","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"local commodity markets with only a few 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farmers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=617.99,622.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/229","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"both the input and the output side,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=622.2,624.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/230","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and four developing alternative","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=624.47,626.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/231","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"production and marketing systems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=626.39,628.453"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/232","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think electronic markets seem to be 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well,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=672.71,675.053"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/249","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but they're not easy to implement.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=675.89,677.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/250","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One of the interesting things that we've run into","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=677.38,680.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/251","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in testing these is that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=680.09,681.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/252","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you think that it would be the buyers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=681.98,684.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/253","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that would resist implementing them,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=684.84,687.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/254","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's not so.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=687.47,688.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/255","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Most of our cases it's been the farmer,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=688.33,690.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/256","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who refuses to trade on.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=690.07,692.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/257","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Every farmer seems to think","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=692.08,693.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/258","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that he can get the best deal,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=693.82,695.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/259","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in selling his lod of hogs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=695.82,697.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/260","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or his is cattle or cotton.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=697.73,701.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/261","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so they're reluctant to use","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=701.45,703.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/262","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's where the problem has been,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=703.25,705.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/263","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"not on the buyer side.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=705.55,707.489"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/264","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(clears 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most,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1079.05,1081.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/412","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"single most knowledgeable person","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1081.27,1083.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/413","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the country on this issue.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1083.11,1084.973"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/414","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so what is the bottom line","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1086.17,1088.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/415","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from Bruce 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cartel,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1180.74,1184.217"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/448","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about all these groups, the bankers so forth,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1184.217,1188.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/449","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or the moneyed 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1955,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1233.615,1235.903"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/468","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the beginning of the NFO.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1237.542,1238.375"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/469","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then we had the holding actions of the 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countries,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1246.35,1248.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/472","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"invasion of Washington.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1248.14,1250.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/473","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Again more conspiracy theories","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1250.37,1252.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/474","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and idea with the American agriculture movement,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1252.16,1254.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/475","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a great deal in Oklahoma,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1254.2,1256.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/476","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we talk a lot about these things.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1256.02,1257.953"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/477","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A vast amount of energy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1258.86,1261.391"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/478","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a vast amount of hate and violence","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1261.391,1266.391"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/479","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has been generated out of these views,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1267.27,1271.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/480","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the agribusiness sector","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1271.04,1272.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/481","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is doing in the farmer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1272.54,1273.923"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/482","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And what we've heard today is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1275.5,1277.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/483","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that these thorough studies","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1277.62,1279.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/484","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"simply don't provide a basis for those views.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1279.81,1284.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/485","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it's a tragic, tragic thing in my 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views.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1297.01,1298.573"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/490","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And to see that disheartens me terribly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1299.585,1304.585"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/491","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they should have no part of that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1305.66,1307.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/492","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, let me talk about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1308.18,1310.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/493","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some of the more specifics of what was","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1310.8,1312.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/494","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"considered here,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1313.96,1315.143"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/495","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who takes over the farms when they go broke?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1317.876,1321.053"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/496","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Tends to be other family farms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1321.91,1324.489"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/497","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Many years ago, Hoffman and Heady did a study","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1324.489,1327.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/498","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of who takes over these farms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1327.66,1329.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/499","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they find that by and large,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1329.05,1330.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/500","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a better manager takes over.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1330.28,1332.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/501","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They found that in the survey of farms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1332.16,1334.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/502","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the yields and productivity of those farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1334.01,1335.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/503","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"increased when they were taken over","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1335.9,1338.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/504","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"after the farmer failed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1338.42,1339.933"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/505","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We find that in this study of slaughter cattle,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1340.89,1345.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/506","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because of concentration,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1346.31,1348.644"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/507","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"farmers don't get 47 cents to the a hundred weight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1348.644,1353.644"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/508","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And Bruce pointed out,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1353.66,1355.437"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/509","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that during the cattle cycle,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1355.437,1357.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/510","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the price runs in the past roughly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1357.18,1359.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/511","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the order of 30 to $70, a hundred 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competition","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1365.95,1367.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/514","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is causing an effect of 47 cents a hundred weight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1367.41,1370.993"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/515","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we're talking about,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1372.91,1373.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/516","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"blaming the farm problem on agribusiness.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1373.83,1376.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/517","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"47 cents a hundred weight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1376.91,1378.613"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/518","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and what was 80 to $120 million","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1379.55,1382.596"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/519","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or something like that they would add to farm income,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1382.596,1385.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/520","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"would that solve the farm problem?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1385.28,1386.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/521","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No way.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1389.069,1390.123"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/522","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Talked about GM and how it was floundering.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1391.18,1395.173"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/523","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It is floundering,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1396.05,1397.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/524","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the race does not always","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1397.98,1399.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/525","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"go to the swift and the strong,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1399.69,1401.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/526","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but if you're gonna bet Bruce, I bet on him.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1402.58,1404.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/527","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would bet on him,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1406.31,1407.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/528","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would not bet on American motors.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1407.16,1409.333"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/529","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"General motors will come 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for","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1417.94,1422.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/532","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"villains in agribusiness.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1422.13,1424.253"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/533","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They say, I've read their materials,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1425.403,1428.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/534","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've read their books,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1428.0,1429.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/535","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"precious level is said about labor unions,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1429.97,1433.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/536","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"precious level and labor unions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1433.2,1436.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/537","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are a source of many of the farm","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1436.92,1439.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/538","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"economic difficulties.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1439.64,1441.153"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/539","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't mean to imply the farm problems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1442.01,1444.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/540","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are due to labor union either,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1444.45,1446.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/541","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but many of the additional prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1446.59,1449.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/542","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that farmers pay over and above","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1449.24,1450.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/543","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what a competitive market would entail,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1450.97,1453.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/544","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is the result of labor unions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1453.88,1455.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/545","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we get very concerned about monopoly in business,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1456.875,1461.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/546","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but we don't seem to get very concerned","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1461.09,1462.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/547","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about monopoly in unions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1462.67,1464.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/548","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Does it cause damage?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1464.9,1466.385"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/549","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I might say that my ethical position","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1466.385,1471.385"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/550","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as an economist is utilitarian that is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1471.94,1474.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/551","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm concerned about the wellbeing of people.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1474.73,1476.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/552","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm concerned about the wellbeing of people.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1478.02,1480.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/553","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the fact is that thousands","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1480.87,1482.638"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/554","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and thousands of workers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1482.638,1484.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/555","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have been put out of work,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1484.27,1485.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/556","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because the labor unions overpriced themselves","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1485.93,1488.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/557","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they steal in all our industries.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1488.86,1490.817"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/558","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But why don't we get concerned about these Bruce?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1490.817,1493.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/559","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1493.31,1494.243"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/560","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It is very difficult to find a lasting monopoly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1499.13,1501.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/561","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that is not the result of government.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1501.96,1503.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/562","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one of the reasons that I don't like","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1505.59,1506.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/563","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to see government step into","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1506.99,1508.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/564","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a lot of these activities is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1508.26,1509.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/565","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that over and over again we see repeated,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1509.91,1512.423"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/566","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the social cost that is involved","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1513.28,1517.309"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/567","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when the government steps in is far greater","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1517.309,1520.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/568","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than the social costs of the market failure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1520.63,1524.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/569","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that that intervention was trying to correct.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1524.47,1526.743"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/570","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I travel a lot,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1528.119,1529.633"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/571","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I just returned from a five week trip","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1530.55,1532.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/572","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to Pakistan, a number of countries in Africa,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1534.06,1536.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/573","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and some of my other colleagues","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1536.87,1538.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/574","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"were in other countries of Africa.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1538.02,1539.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/575","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we got a chance to witness firsthand","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1541.32,1544.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/576","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the impact of these interventions,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1544.82,1547.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/577","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that were supposed to save people","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1547.68,1549.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/578","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from the rapacious capitalists.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1549.7,1552.173"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/579","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the end result of it is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1554.532,1556.993"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/580","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in seven countries that we looked at","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1558.48,1561.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/581","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're on the brink of economic disaster.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1561.04,1564.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/582","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They have run their credit","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1564.12,1565.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/583","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"until the credit is run out,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1565.9,1567.903"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/584","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they have starving people.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1567.903,1570.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/585","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They are in exceedingly 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heads.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1611.19,1612.523"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/604","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the government said an incredibly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1613.658,1616.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/605","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"inefficient market 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disaster.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1620.741,1622.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/608","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We can improve on that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1622.8,1623.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/609","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we'll order a bunch of huge Mercedes trucks,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1623.97,1627.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/610","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we'll do this right.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1627.29,1628.693"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/611","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Guess what happened?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1629.87,1631.023"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/612","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The government couldn't begin to compete","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1632.32,1635.006"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/613","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with those mammies,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1635.006,1637.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/614","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"carrying around food on the tops of their heads.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1637.08,1640.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/615","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we see this kind of wreckage to those Mercedes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1640.48,1643.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/616","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"literally lying as skeletons all over the country.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1643.53,1648.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/617","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They paid vast amounts of money for them,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1648.17,1650.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/618","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're lying there because they couldn't compete","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1650.78,1654.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/619","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the private sector.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1654.09,1656.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/620","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So when you see a market failure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1656.09,1658.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/621","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"one of the first things you should ask is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1658.6,1660.893"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/622","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what is the social cost of another system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1661.95,1664.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/623","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to replace it?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1664.7,1665.703"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/624","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We see large government deficits in those countries","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1667.74,1671.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/625","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that causes 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exports","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1675.047,1677.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/628","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the farmers in this country talk about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1677.38,1678.863"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/629","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a cheap food policy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1678.863,1680.978"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/630","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In my judgment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1680.978,1682.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/631","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they don't know what a cheap food policy is.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1682.07,1684.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/632","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How would you like to have your exports taxed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1684.02,1686.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/633","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at the rate of 20%?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1686.37,1687.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/634","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How would you like to have a lid","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1687.92,1689.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/635","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on all your food prices?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1689.13,1690.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/636","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As many of these African countries do","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1690.61,1692.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/637","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"no wonder their farmers are going broke.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1692.89,1694.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/638","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No wonder the private system is failing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1694.86,1697.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/639","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're blaming it on free enterprise,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1697.33,1699.713"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/640","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that it's failing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1700.85,1702.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/641","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but under most free enterprise failure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1702.35,1704.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/642","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"look for a government activity somewhere.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1704.92,1707.623"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/643","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They search for self-sufficiency,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1709.71,1711.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/644","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in the process of self-sufficiency,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1711.75,1715.085"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/645","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they end up with greater problems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1715.085,1718.253"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/646","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than they had before,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1718.253,1719.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/647","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because in the process of 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money.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1723.0,1726.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/650","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They have no foreign exchange","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1726.35,1727.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/651","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to go into the international market","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1727.76,1730.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/652","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and purchase commodities","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1730.33,1732.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/653","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when times go bad at home.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1732.46,1734.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/654","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That is when they have a market failure.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1734.89,1736.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/655","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Corruption is rampant.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1737.9,1740.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/656","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The beauty of the free enterprise system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1740.05,1742.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/657","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is that it turns private reed into public good.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1742.21,1745.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/658","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There is no such invisible hand,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1745.56,1748.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/659","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"guiding those public administrators in Africa.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1748.25,1752.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/660","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Corruption is absolutely rampant.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1752.97,1755.103"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/661","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so let's be cautious,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1755.98,1758.749"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/662","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"let's be very cautious when we talk about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1758.749,1762.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/663","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a failure of markets and government intervention.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1762.29,1764.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/664","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Thank you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1764.9,1765.733"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/665","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(claps)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1766.742,1768.742"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/666","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e I have a question that maybe get us started","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1774.496,1776.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/667","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then we can go on from there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1776.28,1777.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/668","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's to Dr. Marion really.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1777.87,1779.263"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/669","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You suggested that some actions,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1780.64,1782.239"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/670","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you suggested some actions that could be taken","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1782.239,1784.825"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/671","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to increase the competitiveness","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1784.825,1787.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/672","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of markets, electronic markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1787.16,1789.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/673","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"better information systems,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1789.87,1791.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/674","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"alternative marketing systems and so on.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1791.21,1794.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/675","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That seems to me if you're right,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1794.12,1795.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/676","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that those are the kinds of areas","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1796.719,1799.613"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/677","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"toward which land grant institutions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1799.613,1801.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/678","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"should be directing their research efforts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1801.74,1803.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/679","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in economics departments and colleges of agriculture.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1804.748,1808.023"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/680","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I guess the first question is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1809.09,1810.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/681","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how much research is being done in those areas?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1810.54,1813.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/682","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are they doing that in fact?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1813.23,1815.166"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/683","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then secondly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1815.166,1816.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/684","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is a significant amount of work being done","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1816.99,1819.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/685","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in areas which actually aids anti-competitive?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1819.04,1821.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/686","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e The first part of the question,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1828.599,1831.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/687","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we did have a fairly sizable undertaking","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1832.699,1836.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/688","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to examine electronic marketing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1836.14,1839.326"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/689","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and part of the projects were developed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1839.326,1842.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/690","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in about five different commodities.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1842.84,1844.803"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/691","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now there's not a whole lot going on right now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1846.12,1849.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/692","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but that was a fairly substantial effort","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1849.15,1850.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/693","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that lasted for probably four or five years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1850.97,1853.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/694","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"From 1978 through to probably 1984.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1853.76,1857.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/695","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So, you know, I think we...","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1857.79,1860.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/696","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There was a fairly decent commitment to that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1860.07,1862.667"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/697","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The information area has been less fully explored,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1862.667,1866.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/698","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there was some work that was done in New York state","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1866.79,1868.978"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/699","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"through examining and developing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1868.978,1871.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/700","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"providing information systems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1871.1,1873.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/701","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on farm inputs to farmers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1873.6,1875.633"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/702","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but that one probably has received less investment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1876.76,1881.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/703","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's ongoing work on cooperatives,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1881.38,1885.889"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/704","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we have a project right now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1885.889,1887.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/705","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that is examining joint ventures","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1887.56,1890.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/706","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"involving cooperatives.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1890.05,1891.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/707","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And to what extent, how does that pan out","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1891.41,1894.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/708","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in terms of the farmers and the farm members?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1894.06,1896.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/709","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I think there usually is quite a bit of work","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1897.95,1900.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/710","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"going on in cooperatives.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1900.97,1902.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/711","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The land grant systems have been slow","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1903.566,1908.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/712","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to develop work on non-traditional","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1908.46,1913.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/713","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"production distribution systems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1914.49,1916.463"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/714","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So the organic farming movement","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1917.61,1920.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/715","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and sustainable agriculture,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1920.8,1923.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/716","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then thinks the land grant system came to fairly slowly.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1923.92,1927.554"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/717","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I do think that we're beginning,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1927.554,1929.781"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/718","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to see more involvement,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1929.781,1931.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/719","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I was encouraged that our Dean","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1931.34,1934.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/720","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and quite a few other people from Wisconsin,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1934.27,1936.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/721","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"went up to a meeting on sustainable agriculture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1936.79,1939.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/722","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"up in the middle part of Wisconsin.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1939.16,1941.203"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/723","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So there's some things going on there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1942.44,1944.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/724","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There is one issue that I didn't mention,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1944.49,1949.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/725","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's the fundamental problem","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1949.7,1953.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/726","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that faces agriculture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1953.42,1954.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/727","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and is continued to plague agriculture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1954.92,1957.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/728","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the plagues,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1957.24,1958.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/729","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as far as I tell, it's true in most countries,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1958.5,1961.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/730","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is this volatile price and this the cycles.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1961.87,1965.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/731","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it's fundamentally an issue","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1965.99,1968.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/732","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of coordination of supply and demand over time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1968.69,1972.463"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/733","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one of the things that I think","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1973.88,1976.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/734","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we need to be spending more time on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1976.3,1978.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/735","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is on the coordinating mechanism","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1978.21,1981.458"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/736","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that in trying to possibly 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not,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1989.6,1991.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/739","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at least in contracting,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1991.98,1993.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/740","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"such as in process fruits and vegetables,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1993.4,1996.813"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/741","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there you have a case where the farmer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1996.813,1999.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/742","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"knows what he's gonna receive,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=1999.11,2000.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/743","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"before he commits resources.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2000.52,2002.113"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/744","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that's more than you can say","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2002.95,2004.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/745","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in most of the commodities.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2004.25,2005.683"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/746","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There have been some 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much,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2017.115,2019.794"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/749","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so many acres of corn","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2019.794,2021.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/750","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or so many head of livestock at a given price.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2021.27,2024.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/751","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And you'd have some sort of a computerized","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2024.13,2027.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/752","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"feedback system and finally 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much,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2034.823,2036.077"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/755","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you try to control supply that way.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2036.077,2038.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/756","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I do think with the growing 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about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2044.46,2046.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/759","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"new ways of trying to regulate and control","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2046.58,2049.657"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/760","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"supply over from year to year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2049.657,2054.023"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/761","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so that it's consistent with the cost of production.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2054.023,2058.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/762","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e That was a long answer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2058.24,2059.857"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/763","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Go ahead","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2060.71,2061.676"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/764","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(inaudible)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2061.676,2064.009"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/765","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2080.544,2082.627"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/766","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e And you kind of tried to make it sound like","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2090.41,2093.113"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/767","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who you referring against it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2093.113,2095.578"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/768","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then talk of society,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2095.578,2096.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/769","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how much can you have to attribute","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2096.98,2099.741"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/770","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the tribal war and dictatorship and the weather","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2099.741,2103.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/771","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the lack of education,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2103.35,2106.222"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/772","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and also where they put there priorities","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2106.222,2111.222"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/773","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in those countries,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2111.88,2113.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/774","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as oppose to this type of advice","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2113.17,2116.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/775","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because you can take the opposite,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2116.47,2118.204"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/776","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"look at what China has done for them, expanding our 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country","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2126.53,2128.543"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/779","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're talking about the society.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2128.543,2131.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/780","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then our own country take 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of","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2145.939,2147.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/785","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"biggest deposits, total involved presence,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2147.73,2150.677"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/786","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"plus the trade debts and so 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DDT,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2281.286,2285.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/835","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because that way the weevils don't attack them","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2285.0,2287.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/836","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they'll last a lot 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consumers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2336.69,2338.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/861","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"don't have any money","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2338.65,2340.125"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/862","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to put into agriculture research,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2340.125,2342.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/863","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"extension, education for their people,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2342.37,2344.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/864","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"better roads, better 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Sure.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2357.705,2358.538"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/871","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(inaudible)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2359.388,2361.721"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/872","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e You want me to get into this speech.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2380.53,2382.713"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/873","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2382.713,2384.796"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/874","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Just because we have a conservative","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2386.48,2388.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/875","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the presidential office,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2388.44,2389.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/876","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"doesn't mean that we have somebody","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2389.81,2391.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/877","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who knows something about good economics.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2391.24,2393.731"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/878","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2393.731,2396.476"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/879","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The president's own economic advisors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2396.476,2399.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/880","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have deserted him,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2399.5,2400.463"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/881","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and with fully good reason.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2401.52,2403.243"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/882","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I cited a case where economists agree,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2406.49,2409.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/883","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Bruce Marion and I agreed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2409.93,2411.733"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/884","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there only about two or three cases","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2413.458,2415.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/885","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of that in the whole world,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2415.44,2416.762"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/886","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2416.762,2418.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/887","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where economists 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sector","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2426.36,2428.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/892","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is not what's doing in the farmer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2428.04,2430.444"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/893","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the economists agree 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passed,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2439.69,2443.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/898","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"creating a rather substantial federal deficit","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2443.37,2446.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/899","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by cutting taxes and raising spending,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2446.18,2448.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/900","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"economists said fine, we got a recession,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2448.72,2451.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/901","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we need to get out of it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2451.29,2452.643"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/902","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So they agreed on that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2453.768,2455.143"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/903","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But by late 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me,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2485.576,2488.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/916","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"private demand to finance the recovery,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2488.05,2490.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/917","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you have a very large demand for 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3%.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2508.26,2511.015"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/926","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the 1970s, it tended to run about zero,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2511.015,2513.803"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/927","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we had an unusual 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land,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2530.75,2533.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/934","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which accounts for about three fourths","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2533.81,2535.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/935","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of farm assets is equal to the,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2535.28,2537.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/936","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"basically their rent divided by the real interest rate.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2537.05,2539.853"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/937","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So when you triple the real interest 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on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2567.41,2569.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/950","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they put it in the United States","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2569.02,2570.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/951","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because that's where they can 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savings.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2575.05,2577.103"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/956","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well with that strong demand for dollars abroad","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2578.17,2580.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/957","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"relative to 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work,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2583.71,2586.653"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/960","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that price is the value of the dollar,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2588.307,2590.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/961","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it went up 50% in real 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assumption","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2596.725,2600.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/964","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the mind of the buyer abroad,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2600.91,2602.599"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/965","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it went out 50%","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2602.599,2604.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/966","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they found that it was better to go","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2604.99,2606.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/967","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"somewhere else, to get their wheat and corn","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2606.32,2608.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/968","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and soybeans and so forth.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2608.01,2609.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/969","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so the markets disappeared.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2609.85,2611.443"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/970","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The export market dropped very sharply","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2612.59,2614.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/971","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in the case of wheat we went from 50%","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2614.65,2616.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/972","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the world market to 30% of the world market.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2616.37,2619.283"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/973","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, without the export market,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2620.84,2622.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/974","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the government had to step in,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2622.6,2624.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/975","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we currently have 7% over capacity in agriculture.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2624.43,2628.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/976","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've got 7% more ability to produce,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2628.07,2631.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/977","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in other way of putting it is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2631.05,2632.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/978","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that farmers today would produce 7% more","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2632.78,2635.419"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/979","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than the market would absorb","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2635.419,2637.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/980","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with current incentives, given normal weather.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2637.29,2640.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/981","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The government is removing that from the markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2640.13,2642.745"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/982","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"through acreage diversion,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2642.745,2644.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/983","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"through subsidized exports,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2644.75,2646.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/984","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"through accumulation of stocks.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2646.23,2648.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/985","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So the source of economic problems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2648.61,2651.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/986","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the farmer today,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2651.5,2652.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/987","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is not the agribusiness sector.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2652.45,2655.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/988","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I wanna emphasize that one's more,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2655.0,2658.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/989","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's not the agribusiness sector.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2658.0,2659.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/990","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's been most unfortunate monetary","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2659.93,2663.086"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/991","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and fiscal policies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2663.086,2665.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/992","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's a long answer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2665.67,2666.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/993","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Oh, you have the next question","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2666.64,2667.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/994","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then there's one up front here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2667.95,2669.897"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/995","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(inaudible)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2669.897,2671.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/996","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Response to the last question,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2671.7,2673.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/997","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because I was a little concerned","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2673.19,2675.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/998","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when you had indicated that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2675.15,2677.812"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/999","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(inaudible)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2677.812,2680.145"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1000","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"displaced farmers or displaced farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2681.38,2684.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1001","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that were absorbed by the remaining farms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2684.31,2687.332"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1002","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(inaudible)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2687.332,2689.665"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1003","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e I have not seen a recent study on that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2695.623,2699.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1004","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I have not seen a recent study,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2699.07,2700.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1005","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so I can't say.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2700.5,2701.556"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1006","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e And that's why I wondered in fact,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2701.556,2702.913"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1007","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but you touched upon this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2702.913,2705.336"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1008","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e But I think it's true.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2705.336,2707.006"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1009","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(inaudible)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2707.006,2709.339"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1010","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e I think it's true, I know my brother","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2710.569,2713.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1011","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"just bought a farm,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2713.18,2714.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1012","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and there's no doubt in my mind","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2714.19,2716.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1013","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that he will farm that better","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2716.12,2717.605"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1014","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than the guy who left it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2717.605,2719.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1015","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we'll get more production per acre.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2719.27,2721.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1016","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e That he will.\nYes.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2722.059,2723.519"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1017","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e But now you take...","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2723.519,2725.269"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1018","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(inaudible)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2726.463,2728.796"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1019","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Oh, that would be highly dangerous.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2733.04,2735.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1020","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But if you wanna speculate with me,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2735.21,2739.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1021","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if I were to put my money down again,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2739.09,2741.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1022","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would bet that on the average,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2741.59,2743.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1023","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the farmers taking over will get","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2743.09,2744.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1024","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"more production per acre","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2744.9,2746.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1025","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we'll be more efficient","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2746.4,2747.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1026","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than the farmers who left.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2747.54,2749.266"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1027","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Yeah, well, we all went out and samples","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2749.266,2751.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1028","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of those who we know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2751.64,2753.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1029","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"were you bad farmers or good farmers and those in between","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2753.91,2757.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1030","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but its gonna take a while.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2757.23,2758.714"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1031","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(inaudible)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=2758.714,2761.131"}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432","type":"AnnotationPage","label":{"en":["English [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31432/annotation/1032","type":"Annotation","motivation":"subtitling","body":{"type":"TextualBody","value":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/031/432/original/AV203660_Is_the_Family_Farmer_Being_Squeezed_out_of_Business_by_Monopolies_b.vtt?1627045993","format":"text/vtt","language":"en"},"target":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/031/432/original/AV203660_Is_the_Family_Farmer_Being_Squeezed_out_of_Business_by_Monopolies_b.vtt?1627045993"}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31433","type":"AnnotationPage","label":{"en":["AV203660_Is_the_Family_Farmer_Being_Squeezed_out_of_Business_by_Monopolies_b.txt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277/transcript/31433/annotation/1033","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"- We wouldn't have near as many farmers in the broader business today, if we did not have vertically integrated firms that helped develop the demand and develop very efficient, low price types of system. And so in that, in broadest you gotta say integrators largely built the market. But then the fourth possible impact of large firms is where they have multinational operations, multi area types operations, and a good example of this is Stokely USA, which is headquartered in Wisconsin. And it's not a big firm by the standards when you start comparing it to other firms, but we had the president over to the department last year and he was talking about the question of buying broccoli for freezing. And he said, you know, I'm looking at Wisconsin at California and at Guatemala. And he said, what I can buy for $25 in California, I can buy for $5 from Guatemala. And the... Well from his standpoint, running a business, you can't blame him for going to Guatemala, but in terms of the impact on farmers, there are two impacts. One is if he buys some Guatemala, some farmers are not gonna be growing broccoli that otherwise couldn't US. And secondly, that it's a lever that he can use in negotiating with, Wisconsin or California farmers. So this is one of the possible impacts, also large firms. When we look at the five that at the input side, I'm not going to try to say too much because essentially the bottom line on it, as I look at it is that there are three industries that I would have some concern about farm machinery. And right now, farm machinery, pretty hard pressed to say there's monopoly, any monopoly profit there. I do have concerns about that industry in the long run, because there's been tremendous consolidation, but right now, I know how to push argument very far, and the hybrids seat business and pesticides. I think that those are the ones that structurally we'd expect to have some monopoly power or possible future monopoly power. And the hybrid seed and the pesticide industries test it, the monopoly tends to be related to new development of new seeds or new pesticides. And at this point in time, I don't see a lot of options. On the one hand you wanna encourage R and D and you wanna encourage pioneer develop new varieties of seed. And if you're gonna do that, then of the things we've at least said, we'll do in this country is to allow patents. And you give... So you give a firm, a monopoly on a product for 17 years, and that is a major source of the monopoly power that's in hybrid seeds and pesticides. I think that if there's a place where there may be some lack of competition, in the input in areas, that it may be at the retail level, between farm supply, retail outlets. Some research has shown there've been, I think three or four studies in this area that for very standardized products like soybean oil meal and so on, that that there's a substantial range in prices at different farm supply outlets, like 30, 40%. So there's something that's... I think part of this is related to question of information. Now, if farmers did more checking, did more searching and did a better job of policing their various farm supply outlets, they keep these stores more in line. Okay, conclusions. The foregoing reflects my judgements, and in some instances they're based on solid research and others on little research. But if I'm correct, there are numerous loci of monopoly power, monopsony power or conglomerate power, scattered throughout the food system. I don't perceive any of these as having a major role in squeezing farmers out of business. The collective impact on farming incumbent on marginal farmers, is difficult to estimate. I see relatively little to get excited about in the farm input manufacturing industries, there maybe more problems among prime supply retailers. Large firms and monopsony power in commodity marketing systems, I think justify more concerns. I believe they may have a modest negative effect on current and future family farms, sub competitive prices in some areas may be the margin that pushes some family farms out of business. At the same time, I recognize that there are probably many other marginal factors also, that might make a difference for these firms. Large marketing firms are increasing the marketing economies of scale in farming. A market access for small farmers has declined in some commodities in some areas, to the extent that large firms prefer large farms for efficiency or quality reasons, I have difficulty objecting to their behavior. I have more concerns where large firms operate in non-competitive markets or are able to play one supplier area off against another and drive down farmer prices. In an economic system that relies heavily on markets, evidence of significant monopoly power should always be a source of concern. In some cases however, there are limited options for trying to reduce monopoly power. Merely possessing monopoly power is not illegal. The antitrust laws make it illegal certain actions that may lead to monopoly, such a prediction and some mergers. But achieved in a fair way, monopoly power is legal. And there are no bounds on the extent to which prices can be above or below a competitive level. For example, all Borden sold its real lemon concentrated lemon juice for 30 to 40% more than physically identical competing juices. This was not an issue in the famous antitrust case against Borden real lemon. So their no bounty limit on how, much monopoly overcharged can be charged. So as our laws now stand, there's no basis for regulating performance. The laws instead regulate certain actions that are anti-competitive like price fixing, or that may result in a non competitive industry structure. That's just a merger between two direct competitors. Once monopoly power is achieved, it's difficult to dismantle. So we have to concentrate on preventing the disease, not curing it. Now monopsony power and producer first handler markets, can not be attributed to product differentiation. Which is one of the important things when we look over on the selling side, but in the buying side, product differentiation is not the source of monopoly power. The more likely causes are market concentration or a single from dominance, entry barriers and inadequate seller information. In some cases, the volume of commodity produced within an economic procurement area, will only support a few efficient sized buyers. So then if you wanna increase the number of buyers in order to increase competition, you reduce efficiency and drive up their cost. So antitrust actions in producer first handler markets, need to consider the trade-off between efficiency and competition. Mergers between direct competitors and between the leading national processors of a commodity should probably be carefully examined. The largest processors are often the primary potential competitors, in procurement areas where they don't operate. If the industry is moderate to highly concentrated nationally, mergers between leading firms are likely to bring few if any societal benefits. Predation, price conspiracies, and various forms of unfair competition, or sometimes problems in commodity markets, local commodity markets with only a few buyers or sellers are particularly subject to conspiracies. If you look back over history, most of the conspiracy cases in food manufacturing are with... On the selling side this is, are with fluid milk markets, with bakery markets, you know, they're all... Most of them are local market conspiracies. Strong anti-trust enforcement can help reduce these causes of non-competitive markets. I realized calling for tougher enforcement of the antitrust laws is clearly a cerebral exercise of the current administration. But I think that excess has have a way of generating a reaction. And I suspect this to occur with the present attitude of free enterprise permissiveness and laissez-faire economics. There are more direct actions that can be taken to deal with some non-competitive markets. And four the come to mind, are one new market institutions such as electronic markets, two, produce a group action, just co-ops. Three improved information systems for farmers, both the input and the output side, and four developing alternative production and marketing systems. I think electronic markets seem to be working in cotton, lambs and hogs, and definitely one of the findings was that with lambs, resulted in an increase in price of about $2, a hundred weight, mainly because it broadens markets. It means instead of selling to three buyers, all of a sudden you're selling to buyers all over the Eastern United States. And so you eliminate some of the monopsony power, you also sometimes increase efficiency, reduce the costs, the product goes more directly from the farm to the buyer. So where adequate volume has been attracted to these markets, they performed very well, but they're not easy to implement. One of the interesting things that we've run into in testing these is that, you think that it would be the buyers that would resist implementing them, it's not so. Most of our cases it's been the farmer, who refuses to trade on. Every farmer seems to think that he can get the best deal, in selling his lod of hogs or his is cattle or cotton. And so they're reluctant to use and that's where the problem has been, not on the buyer side. Let me over co-ops, I think that they do have a pro competitive role in the food system, but they're certainly not without their problems. That information I just said, economists frequently call for increased information, and I think that there are some opportunities to police monopsony markets or monopolize markets on the input side, through improved information. And one of the important roles of the university is to provide credible information and testing of various seed varieties, various pesticides and growth regulators and so on to farmers so that they can, sort out the fly specks from the black pepper, in terms of the claims that are made about some of these products. The fourth point about developing alternative production marketing systems, refers to such things as sustainable agriculture. Sustainable agriculture is gaining increased attention and seems to establish greater credibility among the scientific community. Products may be sold through established channels as some natural beef producers are trying to do or directly to consumers through farmer's markets or roadside stance. Where the present concern about nutrition and wholesome food, I think we're beginning to see some supermarket chains that handle and promote something close to organic foods. And this could provide considerable impetus to this sustainable agricultural movement. Problems of monopoly power developed gradually. And the public sector clearly has the major role when it accepts it, to try to maintain competitive markets. It's all too easy however, to allow a gradual erosion of competitive forces. Policies are relaxed towards mergers, vertical restraints, price discrimination, and misleading advertising. A few information programs are discontinued. Exclusive geographic characterize are permitted for soft drink bottles and are sought for beer distributors. Resale price maintenance is proposed. Each of these may appear to be fairly small steps, but in total, they represent a substantial erosion of policies to promote competition. In a reversal of these trends, I think is essential. The actions that I suggest other than antitrust, depend primarily on the private sector. Existing electronic markets are mostly private ventures, producer group action, and alternative agriculture are mostly are steps that do not require a government action. Improved information programs, often dependent upon some public sector involvement, but some private information systems like cattle facts, have also developed. I sense the farmers increasingly recognized that if problems are going to be solved, they'll have to solve them themselves. And I think given the unpredictable... Unpredictability of the federal government, they may be right. Is important however they properly define the major sources of their problems and possible solutions. Monopoly power and the increasing economic power of large firms, are important problems in parts of the food system, and in many parts of our economy. Although the impact on family farmers is difficult to assess, most of the evidence and logic points towards a modest negative effect on the number of family farms. However, I do not see large firms or non-competitive markets as a major cause of the current plate of family farmers, or as major determinants of the future structure of farming. Other factors are simply far more important. You've been patient and I'm running out of... I'm out of gas. Thank you.\r\n\r\n- Thank you, we're gonna have some brief comments and then a discussion. Luther Tweeten is regents professor, in department of Agricultural Economics at Oklahoma State university. And this evening, he'll get a more formal introduction. For many of you he's a regular, he participated in a spirited way in this conference last year, and seems to always be writing about topics that are a significant public concern. I do have one sort of side comment for him as a fellow land grant colleague and Big Aid colleague. I noticed that they must be grading awfully hard down in Still Wear, in that only 16% of the football players are graduating down there.\r\n\r\n- This discussion is degenerated before it even begins. I will try to keep my comments very short. I'm here to say that you're witnessing something of a momentous importance. Historically, this certainly must be unprecedented. Gary Comstock worked very, very hard to find someone who not only was very knowledgeable, but was a person of great integrity, who had studied the agribusiness structure in great depth, and was not part of a group that was prone to take the position that agribusiness is innocent, until proven guilty. Rather the position was the opposite that they are guilty until proven innocent. In fact they are members of that group who are known as ideologues, who sees a conspiracy behind every tree. Now I can assure you that Bruce Marion is a person of great integrity, he has studied this issue in depth, and he's probably the most, single most knowledgeable person in the country on this issue. And so what is the bottom line from Bruce Marion? Let me go to his paper and read his last line. \"I do not see large firms \"or non-competitive markets \"as a major cause of the current plight \"of family farmers, or as major determinants \"of the future structure of farming. \"Other things are far more important.\" We could close right here, maybe. I wish this is a message that could get all over the country, because Lauren Sought talk a little bit about it, but he wasn't really quite fair, about the populous movements in this country. They go way back to 1636, in the Virginia colonies. When the colonies burned tobacco sheds, protesting the buyers of tobacco because the price was too low. Then we had Shay's rebellion right after the revolutionary war. We can skip then way up to patrons of husbandry, they organized in millions. They were absolutely determined that there was a conspiracy on the part of the agribusiness sector to do them in. And whether we call it conspiracy or complicity or whatever we wanna call it, they blamed the agribusiness sector for their ills. And there were all kinds of calls to do something about the grain exchanges about the railroads, about the international grain cartel, about all these groups, the bankers so forth, or the moneyed interests that were doing the farmer in. That was the patrons of husbandry, it's now known as the grains, they'd become a lot more subdued sins. And there was a Farmers Alliance back in the 1880s. Then a little bit later came the Farmers Union they'd become much more subdued since that time too. But at one time they were engaged in violence and so forth, just like most of these other groups. Then along came in Iowa, the farmer holiday movement back in the 1930s, they were shooting rifles at trucks bringing milk into the Omaha market, as I recall, and there were some best in that episode, not many, but a few. Then we had in the 1955, the beginning of the NFO. And then we had the holding actions of the 1960s. Then we got the American agriculture movement, with tractor cades all over the countries, invasion of Washington. Again more conspiracy theories and idea with the American agriculture movement, a great deal in Oklahoma, and we talk a lot about these things. A vast amount of energy and a vast amount of hate and violence has been generated out of these views, that the agribusiness sector is doing in the farmer. And what we've heard today is, that these thorough studies simply don't provide a basis for those views. And it's a tragic, tragic thing in my judgment, but so many people are joining in these views. And the most tragic thing in my judgment is that many of the liberal church groups, are joining in these views. And to see that disheartens me terribly, they should have no part of that. Well, let me talk about some of the more specifics of what was considered here, who takes over the farms when they go broke? Tends to be other family farms. Many years ago, Hoffman and Heady did a study of who takes over these farms, and they find that by and large, a better manager takes over. They found that in the survey of farms, the yields and productivity of those farms increased when they were taken over after the farmer failed. We find that in this study of slaughter cattle, because of concentration, farmers don't get 47 cents to the a hundred weight. And Bruce pointed out, that during the cattle cycle, the price runs in the past roughly on the order of 30 to $70, a hundred weight. $30 to $70, a hundred weight. And this imperfect competition is causing an effect of 47 cents a hundred weight. And we're talking about, blaming the farm problem on agribusiness. 47 cents a hundred weight, and what was 80 to $120 million or something like that they would add to farm income, would that solve the farm problem? No way. Talked about GM and how it was floundering. It is floundering, the race does not always go to the swift and the strong, but if you're gonna bet Bruce, I bet on him. I would bet on him, I would not bet on American motors. General motors will come around. I think it's interesting that NCA 117 spends a vast amount of time looking for villains in agribusiness. They say, I've read their materials, I've read their books, precious level is said about labor unions, precious level and labor unions are a source of many of the farm economic difficulties. I don't mean to imply the farm problems are due to labor union either, but many of the additional prices that farmers pay over and above what a competitive market would entail, is the result of labor unions. And we get very concerned about monopoly in business, but we don't seem to get very concerned about monopoly in unions. Does it cause damage? I might say that my ethical position as an economist is utilitarian that is, I'm concerned about the wellbeing of people. I'm concerned about the wellbeing of people. And the fact is that thousands and thousands of workers have been put out of work, because the labor unions overpriced themselves and they steal in all our industries. But why don't we get concerned about these Bruce? I don't know. It is very difficult to find a lasting monopoly that is not the result of government. And one of the reasons that I don't like to see government step into a lot of these activities is, that over and over again we see repeated, that the social cost that is involved when the government steps in is far greater than the social costs of the market failure, that that intervention was trying to correct. I travel a lot, I just returned from a five week trip to Pakistan, a number of countries in Africa, and some of my other colleagues were in other countries of Africa. And we got a chance to witness firsthand the impact of these interventions, that were supposed to save people from the rapacious capitalists. And the end result of it is, in seven countries that we looked at they're on the brink of economic disaster. They have run their credit until the credit is run out, they have starving people. They are in exceedingly difficult economic circumstances. And if anybody's concerned about wellbeing of people, they ought to be concerned about these countries. These countries got concerned with their policies because they just knew that, whenever there was a capitalist, there was a nasty exploiter. So they had to be protected. And as a result, they overvalued their exchange rates. They set up parastatals and government corporations. They saw these mammies, especially in West Africa, running the markets, they were the marketing people. And they looked at those mammies and they were carrying their supplies in their heads. And the government said an incredibly inefficient market system, this free enterprise is free market, is gotta be a disaster. We can improve on that, we'll order a bunch of huge Mercedes trucks, and we'll do this right. Guess what happened? The government couldn't begin to compete with those mammies, carrying around food on the tops of their heads. And we see this kind of wreckage to those Mercedes, literally lying as skeletons all over the country. They paid vast amounts of money for them, they're lying there because they couldn't compete with the private sector. So when you see a market failure, one of the first things you should ask is, what is the social cost of another system to replace it? We see large government deficits in those countries that causes problems. We see huge trade deficits, we see taxes on exports and the farmers in this country talk about a cheap food policy. In my judgment, they don't know what a cheap food policy is. How would you like to have your exports taxed at the rate of 20%? How would you like to have a lid on all your food prices? As many of these African countries do no wonder their farmers are going broke. No wonder the private system is failing and they're blaming it on free enterprise, that it's failing, but under most free enterprise failure, look for a government activity somewhere. They search for self-sufficiency, and in the process of self-sufficiency, they end up with greater problems than they had before, because in the process of searching for self-sufficiency, they use up their budgets and they have no money. They have no foreign exchange to go into the international market and purchase commodities when times go bad at home. That is when they have a market failure. Corruption is rampant. The beauty of the free enterprise system is that it turns private reed into public good. There is no such invisible hand, guiding those public administrators in Africa. Corruption is absolutely rampant. And so let's be cautious, let's be very cautious when we talk about a failure of markets and government intervention. Thank you.\r\n\r\n- I have a question that maybe get us started then we can go on from there. It's to Dr. Marion really. You suggested that some actions, you suggested some actions that could be taken to increase the competitiveness of markets, electronic markets, better information systems, alternative marketing systems and so on. That seems to me if you're right, that those are the kinds of areas toward which land grant institutions should be directing their research efforts, in economics departments and colleges of agriculture. So I guess the first question is how much research is being done in those areas? Are they doing that in fact? And then secondly, is a significant amount of work being done in areas which actually aids anti-competitive?\r\n\r\n- The first part of the question, we did have a fairly sizable undertaking to examine electronic marketing and part of the projects were developed in about five different commodities. Now there's not a whole lot going on right now, but that was a fairly substantial effort that lasted for probably four or five years, From 1978 through to probably 1984. So, you know, I think we... There was a fairly decent commitment to that. The information area has been less fully explored, there was some work that was done in New York state through examining and developing, providing information systems on farm inputs to farmers, but that one probably has received less investment. There's ongoing work on cooperatives, we have a project right now that is examining joint ventures involving cooperatives. And to what extent, how does that pan out in terms of the farmers and the farm members? So I think there usually is quite a bit of work going on in cooperatives. The land grant systems have been slow to develop work on non-traditional production distribution systems. So the organic farming movement and sustainable agriculture, then thinks the land grant system came to fairly slowly. I do think that we're beginning, to see more involvement, I was encouraged that our Dean and quite a few other people from Wisconsin, went up to a meeting on sustainable agriculture up in the middle part of Wisconsin. So there's some things going on there. There is one issue that I didn't mention, but it's the fundamental problem that faces agriculture and is continued to plague agriculture and the plagues, as far as I tell, it's true in most countries, is this volatile price and this the cycles. And it's fundamentally an issue of coordination of supply and demand over time. And one of the things that I think we need to be spending more time on, is on the coordinating mechanism that in trying to possibly develop new types of coordinating arrangements. Whether they'd like it or not, at least in contracting, such as in process fruits and vegetables, there you have a case where the farmer knows what he's gonna receive, before he commits resources. And that's more than you can say in most of the commodities. There have been some proposals for some type of a system were farmers would, bid that they would grow so much, so many acres of corn or so many head of livestock at a given price. And you'd have some sort of a computerized feedback system and finally develop sort of a compact or contract with farmers that they would grow so much, and you try to control supply that way. But I do think with the growing development of electronic information systems, that we've got to be thinking about new ways of trying to regulate and control supply over from year to year, so that it's consistent with the cost of production.\r\n\r\n- That was a long answer. Go ahead\r\n\r\n- And you kind of tried to make it sound like who you referring against it. And then talk of society, how much can you have to attribute to the tribal war and dictatorship and the weather and the lack of education, and also where they put there priorities in those countries, as oppose to this type of advice because you can take the opposite, look at what China has done for them, expanding our comment, but look what they've done to feed the people now they are exporting country they're talking about the society. And then our own country take precedence. Instead on the last six years, has been under free enterprise you might say, that's what he's told us all these years, anyway, and we here with a bunch of biggest deposits, total involved presence, plus the trade debts and so on. I'd like you to just comment on those comments a little bit.\r\n\r\n- Well first of all, these areas are related that you talk about. There's a place for the market, and there are somethings that market won't do. Some of the areas that the market will not operate very well in, are where there's a to use economist jargon, where there's a difference between the private and social cost or private and social return. And we might take the case of agricultural research. In the case of agriculture research on say a new wheat variety. A private firm, that in the way we used to do it in the old days with an open pollinated wheat variety, a private firm could not appropriate the benefits of that research that they have put into wheat variety. So they're not gonna do it. They're not gonna work on that because they can't appropriate the benefits. So that's one of the areas where a developing country has to do something in terms of the public area. That is the public has to undertake the research. Same way in education. The private sector alone will not do enough education, because the private benefits, the individual alone do not fully compensate, and young people can't afford all that education. So there's another place in national defense, police and so forth. There's a role for the public sector, infrastructure, roads, bridges, grading standards, environmental protection. You can't depend on the private sector alone to take good care of the soil, to ensure in West Africa for example, one of the things that the people like to do is chew beetle nuts, it's a narcotic. They like to chew those beetle nuts. And the private traders have found that one of the good ways to make more money, is to soak those beetle nuts in DDT, because that way the weevils don't attack them and they'll last a lot longer and they can make a lot more money, through lasting longer. Well that's a case where there's a difference between the private and the social benefit. So the government has to intervene in cases like that. But there are other cases where the government should not intervene. And one of the things that the governments of Africa do, is to intervene in agricultural prices. And a tendency is to hold agricultural prices below world prices, because they're trying to help out their consumers, that destroys the farmers incentive. Furthermore, another thing they try to do is to subsidize their farmers in many cases or their consumers. And I say, there's a connection between those two activities, because those government that's get all wrapped up in subsidizing their farmers and subsidizing their consumers, don't have any money to put into agriculture research, extension, education for their people, better roads, better bridges. And so it's very important to keep clear, where there's a role for government and where there's not a role for government. Does that answer your question? Or do you wanna follow up on it?\r\n\r\n- Sure.\r\n\r\n- You want me to get into this speech. Just because we have a conservative in the presidential office, doesn't mean that we have somebody who knows something about good economics. The president's own economic advisors have deserted him, and with fully good reason. I cited a case where economists agree, Bruce Marion and I agreed. And there only about two or three cases of that in the whole world, where economists agree. There are two other areas that economists tend to agree on, besides what we just talked about that is that the agribusiness sector is not what's doing in the farmer. But the economists agree on is that it's appropriate for the government to run a deficit in a recession. So in 1981, when the economic tax recovery act was passed, creating a rather substantial federal deficit by cutting taxes and raising spending, economists said fine, we got a recession, we need to get out of it. So they agreed on that. But by late 1983, we were approaching full employment and we also had inflation under control. And here we come with a second, well, the third thing that economists agree on, and that is when you reach full employment, you ought to have either a balanced budget or even a surplus budget. And that was the message that was forgot. Instead our deficits got even larger. And when you add that powerful demand to finance this huge deficit, to the strong public, pardon me, private demand to finance the recovery, you have a very large demand for money relative to the supply of money. And that drives up the price, the economy works, it drives up the price, the interest rate. The real interest rate, which is a difference between the market rate and the inflation rate, normally is about 2 or 3%. In the 1970s, it tended to run about zero, we had an unusual situation. In the 1980s, it's been running about 10%. In other words, about three times normal. Now that does several things. Number one, it creates a very high real interest cost to farmers. Number two, the value of farm land, which accounts for about three fourths of farm assets is equal to the, basically their rent divided by the real interest rate. So when you triple the real interest rate from normal levels, you cut the price of land to a third of what it was, and that's what's happened at Iowa. Some of the most insidious impacts come through international linkages. That high real interest rate attracts dollars from abroad. The United States has become the black hole for the whole world sucking in dollars, and I'm amazed when I go to these poor developing countries, every dollar they can get their hands on, they put it in the United States because that's where they can get the highest return. We're letting the rest of the world do our savings for us, because we're not doing that savings. Well with that strong demand for dollars abroad relative to supply, again, you drive up the price. Economics works, markets work, and that price is the value of the dollar, and it went up 50% in real terms. And so when the price of corn was $3 a bushel, all that time let's say, just for assumption in the mind of the buyer abroad, it went out 50% and they found that it was better to go somewhere else, to get their wheat and corn and soybeans and so forth. And so the markets disappeared. The export market dropped very sharply and in the case of wheat we went from 50% of the world market to 30% of the world market. Well, without the export market, the government had to step in, we currently have 7% over capacity in agriculture. We've got 7% more ability to produce, in other way of putting it is, that farmers today would produce 7% more than the market would absorb with current incentives, given normal weather. The government is removing that from the markets through acreage diversion, through subsidized exports, through accumulation of stocks. So the source of economic problems to the farmer today, is not the agribusiness sector. And I wanna emphasize that one's more, it's not the agribusiness sector. It's been most unfortunate monetary and fiscal policies. That's a long answer.\r\n\r\n- Oh, you have the next question then there's one up front here.\r\n\r\n- Response to the last question, because I was a little concerned when you had indicated that. displaced farmers or displaced farms that were absorbed by the remaining farms,\r\n\r\n- I have not seen a recent study on that. I have not seen a recent study, so I can't say.\r\n\r\n- And that's why I wondered in fact, but you touched upon this.\r\n\r\n- But I think it's true.\r\n\r\n- I think it's true, I know my brother just bought a farm, and there's no doubt in my mind that he will farm that better than the guy who left it, and we'll get more production per acre.\r\n\r\n- That he will.\r\n\r\n- Yes.\r\n\r\n- But now you take...\r\n\r\n- Oh, that would be highly dangerous. But if you wanna speculate with me, if I were to put my money down again, I would bet that on the average, the farmers taking over will get more production per acre and we'll be more efficient than the farmers who left.\r\n\r\n- Yeah, well, we all went out and samples of those who we know, were you bad farmers or good farmers and those in between but its gonna take a while.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/46872/file/120277#t=0.0,2779.536"}]}]}]}