... entrepreneur, on the one hand, having maintained and improved it during the period, both by purchases from other entrepreneurs and by work done upon it by himself, and, on the other hand, having exhausted ... of effective demand may, and often will, bring the increase of employment to a standstill before a level of full employment has been reached. The insufficiency of effective demand will inhibit ... be found that real wages are falling; and when money- wages are falling, real wages are rising. This is because, in the short period, falling money- wages and rising real wages are each, for independent...