The nature of capital and income

Bibliographic data

Monograph

Identifikator:: 102659555X

URN:: urn:nbn:de:zbw-retromon-82920

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The nature of capital and income

Place of publication:: New York

Publisher:: The Macmillan Company

Year of publication:: 1923

Scope:: XXI, 427 Seiten

Digitisation:: 2019

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Income

Collection:: Economics Books

Sec. 2] INCOME ACCOUNTS 123 Next year we may suppose that the house is found to have rotted beams, is condemned, and must be abandoned or torn down. Its services are ended, but the land is still good and the owner can build a new house. This operation consumes, let us say, the first six months of the year 1901, so that during that period there is no income, but only outgo. During the second half of the year the house is occupied and its use is valued at $600. In the first six months not only did the “house and lot” fail to yield any income, but on the contrary occasioned an expense. The cost of production of the house was a disservice; for this was an “undesirable event’ occasioned by the house and lot. It was withstood only for the sake of future services which it would bring in its wake. It was not itself a desirable event. When we say, then, that any event is undesirable, we make ab- straction of future compensations. All disservices are “necessary evils”; they lead to good, but are themselves evils. We have, then, the following account: — Income For House anp Lor puriNg YEAR 1901 Income Outgo Use of house and lot (six Expense of building months) 7, CL Lh $600 house +» aii.o. $10,000 TAXOS. vv inbim ie 100 $600 $10,100 During this year, then, the house yields a net outgo of $9500. This adverse balance will be more than made up in the years which follow. For the year 1902 we may have the fol- lowing : — puts fertilizers on his land, this, his outgo, is the farm’s ingo. But, although we shall be largely concerned with income and outgo in relation to capital as their source, and might therefore logically employ the terms outcome and ingo, it seems preferable, for reasons of usage, to retain the usual terms, income and outgo.

Access restriction

Copyright

fullscreen: The nature of capital and income

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation