từ giai đoạn thứ năm tăng đầu tư của họ trong các yếu tố gốc và các nguồn lực sản xuất từ 18 mu 31,71 mu, một con số gần gấp đôi kinh phí ban đầu của họ. (21,5 mu số tiền này được chi tiêu vào các dịch vụ sản xuất hàng hoá vốn và 10,21 mu chi cho các dịch vụ lao động và tài nguyên thiên nhiên) 0,45 | Bank Credit Expansion and Its Effects on the Economic System 323 from the fifth stage increase their investment in original factors and productive resources from 18 . to . a figure nearly double their initial outlay. Of this amount . are spent on the productive services of capital goods and . are spent on labor services and natural resources .45 This leads to a rise in the production of goods in the fifth stage which in monetary terms increases from 20 . to . resulting in an accounting profit of . Although in terms of percentage this amount is lower than former profits percent as opposed to the 11 percent earned previously it is comparatively a much higher profit than that which the industries producing final consumer goods obtain industries which as we saw are sustaining absolute losses of 15 . . Consequently growth in saving gives rise to a disparity between the rates of profit in the different stages of the productive structure. This leads entrepreneurs to reduce immediate production of consumer goods and to increase production in the stages furthest from consumption. A temporary lengthening of production processes tends to ensue lasting until the new social rate of time preference or interest rate in the form of differentials between accounting income and expenditures in each stage now appreciably lower as a result of the substantial increase in saving spreads uniformly throughout the entire productive structure. The entrepreneurs of the fifth stage have been able to increase their supply of present goods to others from 18 . during period t to . in period t 1. This has been possible due to greater social saving or a greater supply of present goods in society. The entrepreneurs finance this larger investment in part through the increase in their own saving . by investing a portion of the money which in the past they earned as interest and spent on consumption and in part through new saving .
