This study attempts to explain differentials in production efficiency in Argentine agriculture. The paper focuses attention on the 1970's and 1980's. During this period, technological change was pervasive. Moreover, during the mid 1970’s and the mid to late 1980’s Argentina had the doubtful privilege of ranking as one of the countries with highest inflation of the world.  The principal objective of the paper is to test the hypothesis that human capital (education) is a relevant variable in explaining efficiency differentials. This hypothesis is of interest given the rapid rate of change in agricultural technology, and the lag in education that the agricultural sector presents in relation to other sectors of the economy. The paper also analyzes the possible impact, on efficiency, of firm size as well as ownership structure. Attention is give to firm size because incentives for information-gathering depend on the magnitude of the "universe" over which decision-making will take place. If information gathering and analysis entails fixed costs, "large" firms may adopt innovations earlier than those of smaller size. A trend towards larger firms might result. Lastly, attention is given to the separation between ownership and control as this has been a hotly debated topic in agricultural development as well as in the more applied fields of management and organization.