Within our simple model we have the

Within our simple model we have then examined the long- run dynamics of the debt–capital ratio of the firm sector. We have obtained that long- run stability of the debt–capital ratio and capital accumulation/growth is associated with the short- run puzzling case and with debt- led accumulation/growth conditions. The short- run normal case and debt- burdened capital accumulation conditions are associated with long- run instability of the debt–capital ratio and of capital accumulation. Disequilibrium processes will display the macroeconomic paradox of debt, which means falling(rising) rates of capital accumulation and rising (falling) debt–capital ratios.