THE COLLECTED WORKS OF THORSTEIN VEBLEN: Business Theories, Economic Articles & Essays. Thorstein Veblen

THE COLLECTED WORKS OF THORSTEIN VEBLEN: Business Theories, Economic Articles & Essays - Thorstein Veblen


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rel="nofollow" href="#ulink_58d2f8b8-943e-589f-af40-09f9c9b78073">61 and anything but liquid assets is evidently beside the point of the present question. An inconsiderable fraction of these loans is represented by liquid assets. The greater part of the advances made by banking houses, for instance, rest on the lender's presumptive ability to pay eventually, on demand or at maturity, any claims that may in the course of business be presented against the lender on account of the advances made by him. It is a business truism that no banking house could at a moment meet all its outstanding obligations.62 A necessary source of banking profits, e.g., is a large excess of the volume of business over reserves.

      To give a readier view of the part played by loan credit in this discrepancy between the business capital and the earning-capacity of industrial concerns, it will be in place to indicate more summarily what are the factors at play.


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