INDEX

Physical return of capital, 185, 186.
Piecework, terms used in measurement
 of, 19-20.
Pierson, N. G., definition of income
adopted by, 102 n.}, 346.
Pigou, cited on utility, 47.
Pitt, on sinking fund, 243.
Pocket cash, risk-meeting function
of, 290.
Polar coordinates, representation of
capital and income by, 393-395.

Practice (physician’s), wealth represented
 by, 29.
Prediction. See Forecast.
Preferred stock, 85; share of, to
illustrate riskless value, 280.
Premium concept of interest, 194—
196, 247, 334; interchangeability
 of, with price concept,
196-199, 362-366; represented
mathematically and by diagram,
358-361.
Price, Richard, financial theories of,
243.
Price, definition of, 11, 335; various
usages of term (money, market,
and appraised or reasonable),
13-14; distinction between
quantity, value, and, 14-15;
relation of, to past costs and
future expectations, 189-190;
rate of interest called, of money
or capital, 191; money, defined,
335; dimensions of wealth,
value, and, 341-344.
Price concept of interest, 191-194,
196, 247, 334; interchangeability
 of, with premium concept,
196-199, 362-366; mathematical
relations between rates reckoned
annually, semi-annually, ete.,
according to, 357-358.
Primary (natural) income, 115.
Principal, nominal, in case of bonds,
211-212, 215, 217, 335.
Probability, a matter of human
estimate, not merely mathematics,
 270-271; coefficient of,
276-277, 331, 335, 403; application
 of principles of, to valuation
 of capital, 277-279, 403-406;
 theory of, applied to insurance,
 295.

423
Production, problem of, in concept
 of capital, 55-56, 145-148
 ; cost of, 151, 173-174,
184.

Productive processes, 145-148, 335.
Productive services, 145.
Productivity, physical and value,
185-188, 335.
Productivity theory, 187-188.
Profits, undivided, 68.
Promises of refraining, wealth underlying,
 27, 28.
Property, definition of, 18, 325, 335;
rights in, 20-22; wealth and,
correlative terms and coextensive,
 22-23, 95-96; types of
chief forms of, 26-27; partial
and total rights to, 34-37, 95—-96,
 335; necessity of separating
from wealth, certificates of
property, services, and utility,
38; confusion of ideas regarding,

 38-40; regulation of income
 by sale of, 127, 244-245.


Property rights, definition of, 18, 22,
324, 335 ; table illustrating existence
 of wealth behind, 26-27;
overlying of, by one another, 31
32; classification of, 36-37;
method of determining income

from collection of, 130. See
Ownership.
Pseudo-insolvency, 82.
Psychic income, 167-169, 333;

measurement of, 177.
Purchase, definition of, 11, 335.
Purchasing power, use of phrase,
191.
Put, option known as a, 299.

Q

Quantity, measurement of wealth in
units of, 8-9; distinction between
 price, value, and, 14-15;
conceived as a fund (capital)
or a flow (income), 51-52;
measurement of services by, 120-121;
 ratio of, of services to
quantity of capital yielding those
services (physical productivity),
185; dimensions of price, value,
and, 341-344.

 

Probability computations, 283-284,
408-410.

  

Quarries, terminable income exemplified
 by, 209, 210.