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

142 NATURE OF CAPITAL AND INCOME [Cuae. IX by the railroad and the value of the disservices occasioned by it, whether through cost of operation, repairs, renewals, or betterments. The two ways of obtaining the total social income which have just been outlined — (1) by summing the net incomes of individual persons as owners, and (2) by summing the net incomes from individual articles of wealth as sources —may be illustrated by supposing two ledgers to be opened con- taining the income for a given community, one ledger being devoted to each way. Each page of Ledger No. 1 would be devoted to the income-account of a particular individual, stating in detail, in two columns, the items of income and outgo in the minute manner already shown. In Ledger No. 2 likewise each page would be devoted to the income-account of a particular article of wealth. The first ledger would represent, therefore, the distribution of income among different persons in the community. The summary of such a ledger, arranged according to the mag- nitude of the incomes, would give us the “distribution curve” of incomes shown by Professor Pareto.! Let us suppose, for the sake of illustration, that the fol- lowing is such a summary for the United States: — DistrisurioN LepgeErR No. 1 Net Income for 1900 15,000 millionaire families SLT A $ 2,000,000,000 100,000 families, incomes ranging from $10,000 to B0000° S27 ee ve ae we ee Ce 3,000,000,000 1,000,000 families, incomes $1000 to $10,000 . . 5,000,000,000 20,000,000 families below $1000 So a we 4310,000,000,000 $20,000,000,000 The second ledger would show the same total income, but distributed according to the source which produced it. We may suppose a summary of Ledger No. 2 to be as follows : — ! See his Cours d'Economie Politique, Lausanne, 1897, Vol. 11, pp. 209-345.

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