Economic essays

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Monograph

Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: A statistical method for measuring "marginal utility" and testing the justice of a progressive income tax / Irving Fisher

Collection:: Economics Books

184 ECONOMIC ESSAYS IN HONOR OF JOHN BATES CLARK 13314 and F3 120 or 150. Even so, the formule slightly modified would apply if the statistics for F; and F; were separately available. (e) Constant ratio between the income and expenditure, of any family, i.e., either exact equality of income and expenditure or more generally, a slight excess of income over expenditure, that excess being the same percentage for all Cases. This assumption is chiefly for convenience in order that for the budget ratios, the ¢’s and p's may, except for a constant factor, be applied inter- changeably to expenditure or income. Most actual budget sta- tistics conform approximately to this assumption (in its second form) of a slight excess of income over expenditure. These five assumptions—of (a) adjustment, (b) comparability, (c) dependence of each want only on the provision for that want, (d) equality of price indexes (F1=F3 and Ri=R;), and (e) con- stant ratio between income and expenditure, include all we need in order to solve our problem, provided, of course, that, as first stated, our statistics are reliable. The method merely interprets budget behavior under these five assumptions. If the underlying assumptions just discussed are correct and if the statistical data employed are accurate, the method here presented and its results are unassailable. Perhaps more space has been consumed in setting forth the problem and the method of solving it than may seem necessary to some of my readers. But I am anxious, in thus breaking new ground, not to conceal or overlook any possible difficulty. If the method here proposed is some day to be practically utilized, as I hope it may be, those using the method need to know exactly what are the possible pit-falls and sources of error. Some General Formule Derived Thus far only two formule, or two pairs of formule, (1) and (2), have been reached. More important are certain formule derivable from these four. Dividing the lower of the equations (1) by the upper, just as they stand, we get: Ssps Sep2 Bs _ BE. Sir Sate Fy Fy

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