PART 1

GENERAL FORMULATION
OF THE THEORY OF CAPITAL

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GENERAL CONSIDERATIONS

Definitions

IIO. The definitions and economic notations to be used are
siven below (1).

Capital

Income (‘1

TABLE

[

National reproducible capita
Non-reproducible capital (”
Total national capital .

National income
Consumed national income
Primary income (%) .
labour . . .
natural resources

ke
XR.

) Re
rR.

Xe

() See ALLAIS (1954), The accounting basis of macro-economics.
(3) Nominal values divided by the nominal price of an hour’s unskilled
abour.
3) Excluding the capitalised value of natural resources,
The capitalised value of natural resources.
-, Per unit of time.
{®) The value of primary factors of production (wages and rents) (in
trench: «revenu originaire »).

111 Allais - pag. 17