Technical conditions give the entrepreneur a much freer hand about the acquisition of inputs (which are largely needed to start a new process) than about the completion of outputs (whose process of production-in the ordinary business sense-may be already begun). If forward markets consisted entirely of hedgers, there would always be a tendency for a planned weakness on the demand side; a smaller proportion of planned purchases than of planned sales would be covered by forward contracts. [1946, p. 137]