TheImprovement ofTropical and Subtropical Rangelands
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TheImprovement ofTropical and Subtropical Rangelands

TheImprovement ofTropical and Subtropical Rangelands TheImprovement ofTropical and Subtropical Rangelands

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60 IMPROVEMENT OF TROPICAL AND SUBTROPIOAL RANGELANDS • lAnd. In the broadest BeDH, land includes all natural resources such as air, minerals, lOils, natural vegetation, and water. • lAbor and management. These are the resources furnished directly by humans. • Capital. This refers to the intermediate products (inputs) created from land, labor, and funds used in further production. Capital is both the money ueed to pay for inputs, and the buildings, machinery, livestock, and purchased inputs that can be valued in dollars or local currency. Organizations must conscientiously attempt to guide the allocation of their physical, financial, and adminiatrative resources among sectors and competing programs to further national objectives (figure 3-1). This is true whether the resources committed are being invested by the government directly or by individuals within the economy. The concept of economic rationality is a central consideration of economic theory and the definition given above. A rational economic person, or consumer, ia one who seeks to maximize utility or satisfaction. There is often a close identification between farmers' or pastoralists' consumption and their production decisions. Personal preferences also affect decisions within the agricultural or natural resource development sphere. Some decisions may be made to enhance prestige or status with a peer group. Some may reflect consumption rather than production expenditures. As mentioned previously, however, nonrational behavior may be difficult to judge, in particular by those outside the culture. What seems nonrational to an urban dweller from the industrilized world may be quite rational when examined in the correct cultural context. Therefore, in determining proper economic behavior, what outsiders consider maximum utility may not be in the best long-term interest of pastoralists. Clearly, before a rational economic strategy can be formulated, the culture and traditional economic behavior must be understood. PROJECT ANALYSIS Agricultural or natural resource developments might best be defined, explained, analyzed, and understood as ·projects." Projected cash flows over a period of time are required for comparisons among alternative development projects or other investment decisions. In defining a project, Gittinger (1982) said: We generally think of an agricultural project .. an investment

THE EOONOMIO OONTEXT 61 CAlIH_11ON ~--------------~ I Ii il r;====::;jt:~=~r_,:",~:-~;--~~i:__-' I I CnIogt....,. ~_ ~AA*If t e- _ Full HOUIIHOl.D .. _~l!£T~_~.J! FIGURE 3-1 Pastoral Economi... activity in which financial resources are expended to create capital useu that produce benefits over an extended period of time. In lOme projects, however, COlts are incurred for production expenses or maintenance from which benefits CaD normally be expected quickly, Ulually within about a year. Range or marginal land development projects (such as seeding) can be viewed in the same terms as an agricultural project, although the investments, costs, and returns may be substantially different

THE EOONOMIO OONTEXT<br />

61<br />

CAlIH_11ON<br />

~--------------~<br />

I<br />

Ii<br />

il r;====::;jt:~=~r_,:",~:-~;--~~i:__-'<br />

I<br />

I<br />

CnIogt....,.<br />

~_ ~AA*If<br />

t e- _ Full<br />

HOUIIHOl.D<br />

..<br />

_~l!£T~_~.J!<br />

FIGURE 3-1<br />

Pastoral Economi...<br />

activity in which financial resources are expended to create capital<br />

useu that produce benefits over an extended period of time.<br />

In lOme projects, however, COlts are incurred for production<br />

expenses or maintenance from which benefits CaD normally be<br />

expected quickly, Ulually within about a year.<br />

Range or marginal l<strong>and</strong> development projects (such as seeding) can<br />

be viewed in the same terms as an agricultural project, although<br />

the investments, costs, <strong>and</strong> returns may be substantially different

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