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WO WO On Wn en WB en 
NOOR CON 
ANALYTICAL TABLE OF CONTENTS 
. Total and marginal desirability . . ° . . . 
. Law of decreasing marginal desirability . . ° . 
CHAPTER IV 
CaprTAL 
. Fund and flow distinguished. Capital and income v . 
. Discordant definitions of capital . : . 
. Fundamental truths in these conflicting definitions . 
. Confusions resulting from neglect to introduce time element 
. The weight of economic usage . . : . . 
. Popular and business usage . : : . 
. Correct terminology less important than correct thinking 
CHAPTER V 
CariTAL ACCOUNTS 
. Senses of capital . ; . . . . . . 
. Book capitalization . 
. Book and market values . 
. Summary of senses of capital . 
. Case of decreasing capital-balance . . . . 
. Effect of payments between stockholders and company . 
. ‘Rights to subscribe 
. Stock watering 
. Insolvency y . 
. Pseudo-insolvency . v . . . . . ’ 
. Creditor nominally takes no ris 
- But practically creditor is risk-taker 
. Winding up a bankrupt company : 
. One bankruptcy leads to another . . . . . 
. Summary 
CHAPTER VI 
CAPITAL SUMMATION 
. Methods of couples and balances . . . . at, 
. Distinction between accounts of real and fictitious persons 
3. Summation by couples brings into relief concrete capital 
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