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Published online by Cambridge University Press: 28 April 2015
I have a colleague at Missouri who says educators in farm management “have failed to deal with the comprehensive problems of farm management comprehensively.” I think he is saying that even though we have made great advances (e.g., integrated static firm theory can teach farm organization in a risk world with innovative budgeting and linear programming exercises) our mix does not yet include enough dynamics or management. My colleague contends we rarely attack such managerial problems as imperfect anticipation of future conditions, accumulative effects of decision-condition interaction over time, capital budgeting and the realities of cash flow, time sequencing of decisions, firm-household competition, and firm growth. Such criticisms indicate farm management teaching is ready for new techniques which better communicate functional management processes and the application of farm economics.