Since everybody's been using fertilizers for a long (?) time, does that mean that farmlands aren't sold for as high a price? What happens when all the soil is eroded away?
Modern farming doesn't erode soil. There have been decades since the dust bowl with less rainfall, but no repeat dust bowl because farming has improved.
The obvious one is that when you conclude your farming operation and cease dispensing fertilizer, you leave behind a sterile desert where there was once fertile soil. This may not bother you if your intention is to farm indefinitely, but it's a bit depressing from a land-stewardship point of view.
