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When once the recovery has been started, the manner in which it feeds on itself and cumulates is obvious. But during the downward phase, when both fixed capital and stocks of materials are for the time being redundant and working-capital is being reduced, the schedule of the marginal efficiency of capital may fall so low that it can scarcely be corrected.
— The General Theory of Employment, interest and Money
 (book)
by J. M. Keynes
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| Language: | English |
| Submitted by: | spondulix |
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