At the beginning of the Industrial Revolution, folks with factories found themselves with a problem that was — up until that point — completely unprecedented:
They were producing more than they could sell.
Because of the efficiency and effectiveness of their new methods, they suddenly had more product than demand; a serious issue if you’re a businessperson. If you can’t sell your stock of, say, sweaters, you have to store those sweaters. Maybe sell them at a discount. You end up losing a lot of...
Published on August 20, 2013 12:03