Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (8298)	9/6/2001 11:24:58 AM
From: Don Lloyd	Read Replies (2) of 74559

CB - ...So the widgets pile up, and the manufacturer cuts prices, maybe has to junk them - that's not a failure of consumption, that's over-production. Poor information.... Possibly poor information only in that the future is not correctly foreseen, which is nearly the universal condition. Total over-production is also the result of even just two competitors believing that they can each supply the whole market by themselves. Even if information is perfect, both competitors may simultaneously read all the signals correctly and enter into full production, with the only problem being the initially unseen competitor. Regards, Don

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