Being born in Wisconsin in 1972, I witnessed the death of the very tail end of the small farmer era in America, or at least it felt like I did. However, over the past 10 years, I feel like I've also seen the rise of boutique-type agriculture which focuses on providing a limited quantity of very specific, artisan-quality crops raised using specific (often "Organic", "Sustainable" or "Perma-culture") methods.
Instead of producing a certain number of tons or bushels of commodity crops to be sold to distributors, these farmers sell directly to specific customers, such as restaurants or CSA buyers. Buying these products are sort of a lifestyle choice, not a necessity/cost choice, so maybe it'll be durable in the face of ever-cheaper commodity foods - maybe.
It's technically possible to make a good living growing food, however, marketing, CRM and really good order fulfillment now are just as important as the actual digging in the dirt. If nothing else, your kid might be better prepared for a post-apocalyptic/retro-subsistence economy! ;-)