Yeah, I think instead the numbers only work out if you include things like the cost of land, or the cost of the farmer’s time—and then what’s risen is not the “subsistence cost of horses” per se, but a more general “cost of the things the simplified model of horse productivity didn’t take into account.”
Yeah, I think instead the numbers only work out if you include things like the cost of land, or the cost of the farmer’s time—and then what’s risen is not the “subsistence cost of horses” per se, but a more general “cost of the things the simplified model of horse productivity didn’t take into account.”