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and the Trade Cycle ", Economica, Vol. VI, No. 21 (new ser.; February, 1939);
Compare also it "Annual Survey of Economic Theory: The Recent Controversy on the
Theory of Capital ", Econometrica, Vol. V, No. 3 (July, 1937)].
Significance of the discussed assertion is much wider than that narrow context, in
Which it was considered in recent discussions. It is no wonder that those who
It completely reject, at the same time are incapable to give, seemingly, any
Clear sense to concept of the given and limited offer of a real capital
[As I have tried to show in other work (Pure Theory of Capital,
Especially p.147), the unique adequate description such "offers
The capital "the complete list of a set of possible streams of issue different is
- forms which can be made at existing resources. What from
These various streams of issue it will be made, depends first of all
From that it is possible to name "norm of employment" (that is degree, in what people
Will be taken during the consecutive moments of time during the considered
The period), and from the form of this employment, that is factors, which in turn
Depend on a final demand, level of monetary wages and, as result
All it, from the relation of monetary wages to the prices for products. As
The rule, will be only one stream of production, which by the production
Will give a stream of the income of such volume and such it forms that a part of it
The income which will be spent at any time for consumer goods,
It will precisely be made even to production costs of current volume of issue
Consumer goods, including norm of return on the capital, in which expectation and
The decision on actually used method of production was accepted.
Serious error Bitm-Baverka (and in ready smaller degree - Viksellja) was
That though and quite realising that an existing stock of the capital blessings
Allows to make more than one stream of production, he has tried to simplify
The exposition, having equated a stock of the capital blessings to certain quantity
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