Artificial credit expansion — credit not funded by savings — creates the business cycle by spawning capital malinvestment.

虚贷膨胀——不是通过储蓄创造出来贷——通过制造了大量本错误投而导致了商业周期。

Corporate crime—committed by businesses—should not be confused with white-collar crime, which refers to the occupation of the perpetrator and may be directed against a business.

公司不应与白领淆，后者指是者职业，其行可能是针对企业。