Not true at all. Businesses didn’t move onto the next product, they specialized, making the exact same thing year after year. Because manufacturing tolerances weren’t great, things would need repairs and replacement, so there was repeat business. Nobody kept a buffer stock and moved onto the next product.
They did specialize, yes, but the products did last longer and there was a goal to keep quality high so their reputation would pull customers back later on.
But that socialization wasn’t strict. Companies changed focus all the time.
That sounds like a difficult way to run a business.
It’s how businesses were run for literally hundreds of years.
Not true at all. Businesses didn’t move onto the next product, they specialized, making the exact same thing year after year. Because manufacturing tolerances weren’t great, things would need repairs and replacement, so there was repeat business. Nobody kept a buffer stock and moved onto the next product.
They did specialize, yes, but the products did last longer and there was a goal to keep quality high so their reputation would pull customers back later on.
But that socialization wasn’t strict. Companies changed focus all the time.