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Efficiency of capital, though both complicated and strengthened by the accompanying
Changes of other important short-term variables of economic system.
To develop this position, the head, and whole would be required not
The book careful research of the facts also would be necessary. However, that
To provide guidance on the direction of research following from the stated
Theories, enough below-mentioned short remarks.
We mean such development of the economic by cyclic movement
Systems, for example, towards lifting, at which forces causing it
Are accumulated and strengthen one another, but then gradually weaken, while in
The known moment are not replaced with the forces acting in the opposite
Direction. In turn counteracting forces get stronger during
Certain time and mutually become more active, while also they, having reached the
Maximum, do not start to decrease, giving way to the contrast. Under
Bearish tendencies, time having begun, do not act infinitely in one and
The same direction also that in the end they change it for the opposite.
We believe as well that there is an appreciable regularity in alternation and
In a business cycle there is also one more characteristic feature, which ours
The theory should explain, if it is correct, namely the crisis phenomenon, i.e.
Sudden and sharp, as a rule, upward adjustment change
Bearish, whereas at return process of such sharp turn
Frequently does not happen.
Any change in investments which is not compensated respective
Change of propensity to consumption, will lead, of course, to change
Employment. As the volume of investments is subject extremely difficult
To influences, it is rather improbable, that all fluctuations in investments or in
Marginal efficiency of the capital had cyclic character. One special
The case, namely connected with agriculture, will be separately considered
In the last paragraph of this chapter. I believe, however, that owing to some
The certain reasons of fluctuation of a marginal efficiency of the capital in the typical
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