A tragedy of misallocation

Robert Hutton at The Critic:

Although farming is often reported to be in crisis, Britain is actually full of people who know how to make a fortune from it. Unfortunately, due to a tragedy of misallocation, all those people live in London and are busy on social media, and so the farming has to be done by people who are apparently too stupid to understand that they’re vastly rich, even when it’s been repeatedly explained to them by their betters.