THE ENTREPRENEUR AND THE SUPPLY OF CAPITAL 21 
again ownership fell to “active” capital, theories of risk-bearing 
sprang into existence. 
As a matter of fact neither form of theory is exclusively appli- 
cable, even as a statement of the attachment of profits. In those 
industries where large capital, fixed capital and valuable good- 
will are the rule, the risk theory fits the facts better. But in 
other kinds of enterprise where small capital, circulating capital 
and relatively unimportant good-will hold the field, the theory 
of business management accords better with the facts. More- 
over, it must be admitted that in most cases some admixture of 
the two theories is better than either alone.