Keyword: consolidation

Blocked Exit (3/7/2002)

Inefficient firms in mature industries often are preserved for political reasons long after they should have exited the market.

Keywords: bankruptcy, capacity reduction, Chapter 11, consolidation, exit, glut, import tariffs, market exit, overcapacity, steel industry, steel summit

The Dust Bowl - Natural or Man-made Disaster? (12/21/2001)

High transaction costs, whether natural or artificial, could delay the transfer of property rights from lower-value use to higher-value use.

Keywords: consolidation, disaster, diversification, Dust Bowl, farm size, Great Plains states, Homestead Act, livestock, property right, transaction cost