Do we really need industrial farming to feed the world?

There are now over 7 billion of us on the planet, with over 7 billion mouths to feed, and there are many who argue that in order to feed those many mouths, and all the new ones there will be by 2050, we’ll need to:
1) Encourage small, family farmers to
2) Double our food production in order to feed the earth’s growing population by
3) Employing ‘efficient’ industrial farming practices such as concentrated animal feeding operations (CAFOs or factory farming), the use of industrial pesticides and herbicides, and genetically engineered crops.
Is it true? Do we really need industrial farming to feed the world? After all, this means big money for companies, if they can get everyone behind “America’s Farmers“(that link is actually to a wholesome-sounding PR campaign by Monsanto).

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