Điều này dẫn đến sự gia tăng trong sản xuất hàng hoá trong giai đoạn thứ năm, về tiền tệ, tăng từ 20 mu 32,35 mu, dẫn đến lợi nhuận kế toán của 0,54 mu Mặc dù trong điều kiện tỷ lệ phần trăm số tiền này thấp hơn so với lợi nhuận trước đây (1,70% như trái ngược với 11% thu được trước đó), | 416 Money Bank Credit and Economic Cycles existence of idle capacity in many production processes but especially in those furthest from consumption such as high technology construction and capital goods industries in general in no way constitutes proof of oversaving and insufficient consumption. Quite the opposite is true it is a symptom of the fact that we cannot completely use fixed capital produced in error because the immediate demand for consumer goods and services is so urgent that we cannot allow ourselves the luxury of producing the complementary capital goods nor the working capital necessary to take advantage of such idle capacity. In short the crisis is provoked by a relative excess of consumption . a relative shortage of saving which does not permit the completion of the processes initiated nor the production of the complementary capital goods or working capital necessary to maintain the ongoing investment processes and to employ the capital goods which for whatever reason entrepreneurs were able to finish during the expansion process. 17 excess of capital and that consumption is insufficient on the contrary it is a symptom that we are unable to use the fixed plant to the full extent because the current demand for consumers goods is too urgent to permit us to invest current productive services in the long processes for which in consequence of misdirections of capital the necessary durable equipment is available. Hayek Prices and Production pp. 95-96 17 After the boom period is over what is to be done with the malinvestments The answer depends on their profitability for further use . on the degree of error that was committed. Some malinvestments will have to be abandoned since their earnings from consumer demand will not even cover the current costs of their operation. Others though monuments of failure will be able to yield a profit over current costs although it will not pay to replace them as they wear out. Temporarily working them fulfills the
