93 violent one, since a condition roughly approximating to this prevails in any quiescent period of industry, when there is no appreciable depression. Under these " normal " conditions, the capital invested in any given industrial venture ia turned over within a certain, approximately definite, length of time. The length of time occupied by the turnover may vary from one establishment to another, but in any given case the length of the turnover is one of the important factors that determine the chances of gain for the business concern in question. Indeed, if the general conditions of the trade and of the market are given, the two factors which determine the status and value of a given sound concern, as seen from the business man's standpoint, are the magnitude of the turnover and the length of time it occupies.
El objeto del hombre de negocios es obtener la mayor ganancia total de su negocio. Es manifiestamente de su interés, en la medida de lo posible, acortar el proceso del cual se obtienen sus ganancias, o, en otras palabras, acortar el período en el que rota su capital. Si la rotación consume menos del tiempo ordinariamente permitido en el ramo
Thig, of course, bas notbing to say to BOhm-Bawerk's theory of the enhancement of production through letigLhening the precasses o( itiduttry. His theory of the "rouudabout method" applies lo the technical, maieriiJ efficiency of the mechanica! process ; whereas the point In question here la the interval occupied in the turning over of a given bnslneas capital, Bbhm-Bairerk'a position may be qoeatlonable, hoWBTer, on othoi grounda.
industria en la que participa, obtiene más que la tasa corriente de beneficios en esa línea de negocios, a igualdad de condiciones; mientras que pierde si la rotación toma más del tiempo normal. Este hecho se expresa con fuerza en la máxima: «Poco margen y rápida rotación». Hay