Word: glutting
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...greatest obstacle to increasing output is not technical but psychological: the farmer's traditional fear that if he grows everything he can, he will only produce a glut that will depress prices. That attitude may seem totally irrational, given the almost hysterical state of current markets, but in fact farmers have some reason for regarding the present deluge of world demand as an abnormality that will soon pass. It has been caused by an extraordinary combination of temporary factors: bad weather round the world; crop failures in Africa, Asia and the Soviet Union; a decline in the catch...
...side the skin kings are besieged by a host of imitators who threaten to glut even a market that sometimes seems insatiable. On the other hand there is the sudden appearance of a new and stricter legal definition of obscenity by the U.S. Supreme Court (TIME, July 2). Though the boundaries of the court's ruling are still unclear, they could well halt the skin trade's race to publish ever more explicit turn-ons. If forced to retreat, the magazines might simply succeed in boring their audience...
...chairs over the jobs that will be left. By year's end, around 200 mid-career professionals and a large number of clerical employees will be on the street. The Rev. Arvo Vaurio, whose own personnel job has been axed, is now doing "outplacement" for his colleagues. The glut of middle-aged clergymen on the market could not have come at a worse time, since slots are scarce in government, colleges and industry. Vaurio figures that the church will be lucky to place 15 or 20 of the ministers in local congregations. Many of the executives took national jobs...
...overproduction has watered down prices of some types as much as 40%. Prices for full-bodied malts, which give Scotch its smoky flavor, are strong now because of rising world demand; the Japanese, for instance, import malts to blend into such "Scotch-type" drinks as Suntory whisky. A supply glut, however, is still depressing the prices of grain whiskies, which are blended with malts to give Scotch its lightness...
...recent years, universities have been graduating far more students with doctorates-a record 32,000 last year-than there are jobs for them. Now a task force has reported to the Department of Health, Education and Welfare not only that there is a glut of degree holders, particularly in the humanities and social sciences, but that their overall quality has declined...