ibereby implying that they may not be beneficial to the community even in respect to their effect upon the aggregate income or the aggregate accumulation of wealth in
, comunidad. Se les llama derrochadoras simplemente porque estos gastos, de manera directa y en su primera incidencia, se limitan a retirar y disipar la riqueza y el trabajo del proceso industrial, y de forma improductiva con-
I sume the products of industry. Indirectly they have a beneficial aggregate effect upon indosCry by inducing an employment of the ftdl prodocUve efficiency of tlie industrial apparatus ; so that In a very short time, it is at least conceivable, the aggregate net output of the industrial process may be aa large and serviceable as before the wasteful expenditure* were entered upon, even with the destruction of tiiaX portion of (he product which goes to maintain the wasteful expenditures.
At the same time, the eSect upon business must be held to be pat«nttj favorable. The wasteful expenditures enhance demand and
I so increase the vendibility of the output, — tbey increase profits and
I nise capital iialion. They therefore act lui equivocally to advance the values of the business men's holdings and increase their gains, as counted in business tenns. The wasteful expenditure Is good for trade. It is only in the eventual liquidation that a dlMdvuiltigeoiw boaineH oODseqoenoe comes in view.
LA TEORÍA DEL BIENESTAR MODERNO 253
Se dijo más arriba que desde los años setenta el curso ordinario de los asuntos comerciales, cuando no se ve alterado por circunstancias