Leaving New York for the Farmlands

Leaving New York for the Farmlands

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To Farm or not to Farm There is a major difference from being an investment banker to running a farm. The colleagues are giving some good advise in that it may be a great business opportunity, but they are assuming that the price of farmland is going to increase drastically due to the demand of corn to fuel plants expected to soar. There are a couple of factors though that the colleagues are not taking into consideration
Competition and Alternatives Even if entry is limited, firms within an industry are not immune to outside competition (Brickley, Smith, Zimmerman, 2009, p. 255). The advise given by the colleagues is sound, but without a true understanding …show more content…
There is also the cost for equipment to farm the land, as well as the costs for the items being planted. It is mentioned that everything that has been saved will be going into just purchasing the land, so there needs to be an analysis of where the additional money will come to pay for the remaining costs.
Conclusion
There needs to be more thought put into whether purchasing the land is a wise decision. Remember, the overall goal is to live in a more peaceful environment. One can still be an investment banker and not live in New York or Hong Kong. An analysis needs to be done to see if giving up the steady income of investment banking for owning and operating farmland is a wise decision. If it is a better investment, then there needs to be a check on why the land is costing double what the current going rate for land in Illinois is.

References

Leaving New York for the Farmlands essay