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 IV. Summaries

Collection:: Economics Books

Sec. 8] SUMMARY OF PART III 314 influence traverses the entire section. It is produced by the logging camp; “ripens” into all that income of the. saw- mill which is comprised between the points P and ; and this in turn ripens into the income of the lumber yard Logging Camp Fia. 30. comprised between the points P' and Q'. In this way we are virtually following the log as it is transformed in the various processes from tree to lumber. It is in consideration of such a relation or set of relations that an income item like a was called a “preparatory service.” Each such preliminary process of production takes place in anticipation of future resulting processes, and derives its value from them. Combining this principle with the principle that the value of all capital is the dis- counted value of its expected income, we see that the value of the capital in the lower layers is ultimately dependent on the value of the income in the topmost layer; for the value of that earlier capital is the discounted value of the _ and this income, consisting of interac- income it produces A vices, is in turn the discounted value tions or preparatory ser of the services to which it leads, and so on through succes-

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