[lbo-talk] Randians say...

[John Thornton]

Doug Henwood wrote:
> Overlooked here is that in a free market business failures are not 
> just normal, they’re crucial for the best products and ideas to 
> emerge. Most restaurants fail in their first three years because 
> customers have other preferences. Many mom-and-pop grocers go out of 
> business because Walmart offers better selection and lower prices. 

I thought I read something awhile back that showed the most probable 
reason the majority of restaurants fail in the first few years is lack 
of capital rather than consumers changing preferences of poor 
management? Anyone know where I might have read such a thing?

John Thornton