Das Ich und der Staat

The nature of capital and income

Bibliographic data

Monograph

Identifikator:: 1689849630

URN:: urn:nbn:de:zbw-retromon-100544

Document type:: Monograph

Author:: Harms, Paul http://d-nb.info/gnd/116483091

Title:: Das Ich und der Staat

Place of publication:: Leipzig

Publisher:: Verlag Quelle & Meyer

Year of publication:: 1926

Scope:: XII, 128 Seiten

Digitisation:: 2020

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: V. Überstaatliche Bindungen des Ichs

Collection:: Economics Books

Sec. 15] CAPITAL ACCOUNTS 89 expectations of the future are changed and confused. Plans are given up, orders are countermanded, and trade is stopped. Assets, representing as they do the value of future expectations, suffer sudden and heavy reductions. § 15 Briefly summarizing this chapter we may say that a per- son who has liabilities is, in a sense, a trustee. He holds more than he owns. He holds all his assets; he owns only the margin between these and his liabilities. His responsibility for the liabilities requires that he should keep his own margin of capital comparatively safe. But there is always risk of losing his margin and becoming insolvent. This risk, whether large or small, is necessarily assumed by his creditors, and its existence should be recognized in law as well as in business practice. The record of the relations which at any time exist between assets, liabilities, and the margin of capital separating them constitutes what we have called the “capital ac- counts.”

Access restriction

Copyright

fullscreen: The nature of capital and income

Monograph

Chapter

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation