The nature of capital and income

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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

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Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Income

Collection:: Economics Books

178 NATURE OF CAPITAL AND INCOME [Car X understand any one without having had at least some view of both of the others. §9 Having completed our survey of the summation of the elements of income, we may properly pause to classify these items. They fall naturally into three groups. The first group includes those items of income which are positive and not negative, that is, the agreeable experiences of sub- jective income, for these, as we have seen, are the only final uncanceled positive items. The second group in- cludes items which are negative but not positive, namely, disagreeable psychical experiences, and consists of two classes: (1) the labor and trouble which are sacrificed for the sake of procuring income through objective channels, in other words, the toil of the producer; and (2) the dis- agreeable impressions produced in one’s consciousness by an abnormal state of the body, as aches, pains, and all sorts of illness, but which are not, like toil, voluntarily incurred for the sake of future return. The third group includes what we have called interactions, or items which are at once positive and negative, according to the point of view. Both of the first two groups are entirely subjective, and the last is entirely objective. The third group, interac- tions, constitutes by far the bulk of the items entering into income accounts, and includes all of those which enter into practical bookkeeping. It may be subdivided into two groups: (1) interactions outside of the human body, and (2) interactions between external wealth and the human body, or what have been called “final objec- tive services.” The following scheme shows further sub- divisions: —

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