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The marginal efficiency of the capital will be lifted from time to time above

Zero, causing "boom", but at subsequent "crisis" the capital fund can To some time to fall below level which corresponds to the long-term The marginal efficiency equal to zero. If to assume a true prediction The future, equilibrium fund of the capital, which marginal efficiency in

To accuracy it is equal to zero, will be, of course, less than that fund which supplies

Complete use of cash resources of work, for this equilibrium fund The capital corresponds to the size of unemployment necessary for attention Savings to zero.

The unique position of balance different from it, would be set Situation, when fund of the capital, so big that its limiting Efficiency equals to zero, would represent simultaneously the sum of riches, Sufficient for complete satisfaction of cumulative desire of public

To supply the future even at a full employment, and besides in conditions, when

It is impossible to receive any award in the form of percent. However would be

Improbable coincidence of circumstances that a propensity to save in Full employment conditions it has appeared satisfied just in a point, in Which the capital fund reaches level, where its marginal efficiency It is equal to zero. If, hence, such more favorable possibility

Balance also it would be presented as a saving outcome, that, probably, not then,

When the norm of percent has already reduced to zero, and in some previous point

Its gradual fall.

Interfering that the norm of percent was negative; such factor Money with insignificant costs of the contents is. Actually,

Thanks to which border below which practically cannot fall

The norm of percent, is established much above zero. In particular, commissions

For "data together" borrowers and creditors and uncertainty rather

The future norm of percent - about what we spoke above - establish the bottom

Border which in present conditions can make from 2 to 2,5 % for Long loans. If so in real practice fast would arise Unpleasant situation when the riches fund grows, and norm of percent in Conditions laissez-faire cannot decrease further. Besides it, if Minimum level to which it is possible to lower norm of percent practically, Considerably above zero probability of that cumulative desire there is less Will accumulate wealth it is satisfied before the norm of percent will reach The minimum level.

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