The Nature of Capital and IncomeMacmillan, 1906 - 427 pagine |
Sommario
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Parole e frasi comuni
actual amount annual Appendix to Chap apply article of wealth assets balance sheet bank called capital account capital and income capital-value cash chance CHAPTER concept consists cost debited definition depreciation fund discount curve discounted value dividends dwelling earned economic economists elements equal exchange exist fact fee simple future income account income and outgo income stream individual instance instruments interac interactions invested labor land less liabilities marginal desirability mathematical value means ment method of couples net income objective income owner payment perpetual annuity person Political Economy premium present value principle production property rights quantity railway rate of interest ratio realized income received reckoned reinvested rent repair fund represented risk riskless value sawmill sell sense services and disservices simply stockholders stocks and bonds suppose surplus term theory tion true undivided profits usually value-return wheat worth yields
Brani popolari
Pagina 59 - Wages, then, depend mainly upon the demand and supply of labour ; or, as it is often expressed, on the proportion between population and capital. By population is here meant the number only of the labouring class, or rather of those who work for hire ; and by capital, only circulating capital, and not even the whole of that, but the part which is expended in the direct purchase of labour.
Pagina 106 - The only true method, in our view, is to regard uniformly as income the service of a dwelling to its owner (shelter or money rental), the service of a piano (music), and the service of food (nourishment) . . ." (emphasis in original). I. Fisher, Nature oj Capital and Income (New York: AM Kelley, 1906). * We are tempted to suggest that the word "consumption" be dropped entirely from the economist's vocabulary as being basically deceptive.
Pagina 52 - A stock of wealth existing at an instant of time is called capital. A flow of services through a period of time is called income.
Pagina 59 - With these limitations of the terms, wages not only depend upon the relative amount of capital and population, but cannot under the rule of competition be affected by anything else. Wages (meaning, of course, the general rate) cannot rise, but by an increase of the aggregate funds employed in hiring labourers, or a diminution in the number of the competitors for hire ; nor fall, except either by a diminution of the funds devoted to paying labour, or by an increase in the number of labourers to be...
Pagina 292 - In other words, the total property of 10,000 houses is worth in "mathematical value" $90,000,000 instead of $100,000,000, the reduction being because of the prospect of fires. If we suppose all of these houses to be owned by one corporation, this mathematical value of $90,000,000 might also be the actual value, for such a corporation could count on about 50 houses burning annually almost as a certainty. Each house would then be worth, on an average, $9000. But if such an individual house is owned...
Pagina 59 - ... be reduced. To illustrate this principle, let us suppose, that the capital of a country appropriated to the payment of wages, would, if reduced to the standard of wheat, form a mass of 10,000,000 of quarters : If the number of labourers in that country were two millions, it is evident that the wages of each, reducing them all to the same common standard, would be five quarters...
Pagina 348 - Social Income may be estimated by adding together the incomes of the individuals in the society in Social income. question, whether a nation or any other larger or smaller group of persons. But to reckon it directly is for most purposes simplest and best. Everything that is produced in the course of a year, every service rendered, every fresh utility brought about is a part of the national income.
Pagina 288 - ... to avoid such risks altogether. This follows from the existence of the factor of caution. Where the coefficient of caution is abnormal, amounting to incaution, risks are not avoided, but are expressly sought, and the phenomena of gambling and indiscriminate speculation are the result. But...
Pagina 351 - Einkommen die Summe aller in Geld oder Geldeswert bestehenden Einnahmen, mit Einschluss des Mietwertes der Wohnung im eigenen Hause oder sonstiger freier Wohnung, sowie des Wertes der im Haushalte verbrauchten Erzeugnisse der eigenen Wirtschaft und des eigenen Gewerbebetriebes, abzüglich der auf Erlangung, Sicherung und Erhaltung dieser Einnahmen verwendeten Ausgaben, sowie der Schuldzinsen, zu verstehen.