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.