Most of the traditional farmers I've spoken to are interested in going Organic, but haven't gotten the math to pencil out. A year like this, however, shows that relying on petrochemicals for fertilizer isn't always going to be the "cheap" option.
The reason Organic is expensive is in one simplified sense due to fertilization. Spreading compost on a field takes many many truck loads. If you want to be certified, your compost will probably need to be certified too.
The real end game for us is getting rotational grazing on our fields to restore health and fertility to the soil. Ultimately it's a game of inputs and outputs. Ideas like permaculture and Agroforestry incorporate guilds of plants and animals that are symbiotic and add up to more than their component parts — bringing in pollinators, fixing nitrogen from thin air via microorganisms in the roots of plants like clover, etc. Practices like terracing can help reduce soil loss, and efficient direction of water can lead to better hydrology over the long term, instead of creating deserts.
Overall, we have a system of modern agriculture today that feeds the whole world — it's very impressive! But it relies on things like cheap fossil fuels (partially due to ignoring negative externalities), a predictable climate, and even global stability in terms of war & peace and cooperation.
Anyway, something to think about the next time you buy food — when you purchase from farms making an effort at more sustainable practices, you're making a difference.