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energy costs and agribusiness conglomeration (Weis 2007). In consequence, agribusiness migrates offshore to take advan- tage of cost-reducing investments in Southern land, water, and labour, and the prospect of untapped markets for agro-inputs provided by newly recruited out-growers (McMichael 2013). This contributes to the universalization of a model of agriculture whose technologies are com- mercially standardized rather than culturally place-based. As Sophia Murphy observes, conventional agro-industrial emphasis is on agri- cultural output, rather than

systems indicate that pressures for adjustment will be significant in two regions-the Alentejo (on the cereal and livestock pro- ducing farms using poor soils) and the Northwest (on the dominant small farms producing milk, corn, wine, and potatoes). Levels of agricultural activity can be expected to decline in these two regions unless cost- reducing investments in new (and as yet largely undiscovered) technolo- gies can improve profitability substantially. Structural adjustment in the Northwest appears likely to become a major area for policy attention. The

) Higher marginal productivity of capital (δΥ,/δΚ) in Japan. This is attributable to the higher Japanese ratio of labor to capital, the high American loading on long-range research and development (of which Japan, too, takes advantage), the American practice of rapid depre­ ciation and obsolescence, and the higher degree of excess capacity in America, (b) Concentration on output-increasing investment in Japan, as against cost-reducing investment in America. This results in higher employment factors (dN/I) in Japan. The (dN/I) term may even turn negative when