Mises Daily
Author:
Malte Tobias Kahler
Online Publish Date:
a while, more and more entrepreneurs copy the strategy of the pioneer firms until competitive behavior forces profits to go down again and a depression begins, in of Our Time The critical remarks mentioned above are of utmost importance for policy advisers. If the business cycle is not driven by innovations as such, but by Scarce factors of production are thus missing in the middle and late stages. The competition for these factors will eventually cause their prices to rise. Finally, it