Excerpt from Stead’s Review, Vol. 54: November 13, 1920
The demand for goods continues; we have not yet reached the stage of over production. But the time has arrived when the limit of the purchasing power of our customers is being reached, and they can buy no more. In an article some six months ago, I declared the cry Produce Produce Produce To be a popular delusion, pointing out that, whilst there were plenty of things, it’ still was worth while producing, the real shortage in the world, was not goods, but purchasers. I ventured to predict’ that there would inevitably be a notable drop in the prices even of staple pro ducts like wool and wheat, and that the inability of people to buy, Owing to, lack of money, must sooner or later af fect their position. Already there has been a considerable drop in prices, and’ although, in many lines. This is due to.
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