It is upon the fact that fluctuations tend to wear themselves out before proceeding to extremes and eventually to reverse themselves, that the theory of business cycles having a regular phase has been founded.

正是基于这样一个事实，即波动在走向极端之前往往会自行耗尽并最终自行逆转，因此商业周期具有规律阶段的理论已经成立。