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Worldwide 01.01.2009 –

Join “Art market shakeout”

by Ralf Schmitt, Berlin

Courtesy Chantal Carrousel

Will the artist Carsten Höller return to his roots as a  phytopathologist in 2009?

Shakeout is a term used in business and economics to describe the consolidation of an industry or sector, in which businesses are eliminated or acquired through competition. It may also refer to a situation in which many investors exit their positions, often at a loss, due to uncertainty in the market or recent bad news circulating around a particular security or industry.

Shakeouts can often occur after an industry has experienced a period of rapid growth in demand followed by overexpansion by manufacturers. Large, diversified companies are often most able to endure a weak business climate and can benefit from shakeouts. A shakeout of investors and internet businesses occurred during the dot-com bubble.

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