From a resource standpoint, the important point of this comparison is that including the marginal external costs of production and allocating resources based on the full social cost results in a higher price for the good (Ps > Pp) and less output (Os < Op) than only including the private costs.
Today, the nation's farmers are 17 years older than the average American worker, with the ranks of farmers who are 75 years and up outnumbering those in their prime working years of 35 to 44. One big reason U.S. farmers are going gray: spiraling costs.
Median age of the U.S. labor force was found for 1980, 1990, 2000, and 2010. These years are paired with the nearest Census of Agriculture year (see Figure 2). The 2007 average age of U.S. farmers exceeded the 2010 median age of the U.S. labor force by 15.4 years (see Figure 3). This difference has not changed much since 1980, implying that U.S. farmers and the U.S. labor force are aging in concert -- if anything, farmers are aging somewhat slower.