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WO WO On Wn en WB en
NOOR CON

ANALYTICAL TABLE OF CONTENTS

. Total and marginal desirability . . ° . . .
. Law of decreasing marginal desirability . . ° .

CHAPTER IV

CaprTAL

. Fund and flow distinguished. Capital and income v .
. Discordant definitions of capital . : .
. Fundamental truths in these conflicting definitions .
. Confusions resulting from neglect to introduce time element
. The weight of economic usage . . : . .
. Popular and business usage . : : .
. Correct terminology less important than correct thinking

CHAPTER V

CariTAL ACCOUNTS

. Senses of capital . ; . . . . . .
. Book capitalization .
. Book and market values .
. Summary of senses of capital .
. Case of decreasing capital-balance . . . .
. Effect of payments between stockholders and company .
. ‘Rights to subscribe
. Stock watering
. Insolvency y .
. Pseudo-insolvency . v . . . . . ’
. Creditor nominally takes no ris
- But practically creditor is risk-taker
. Winding up a bankrupt company :
. One bankruptcy leads to another . . . . .
. Summary

CHAPTER VI

CAPITAL SUMMATION

. Methods of couples and balances . . . . at,
. Distinction between accounts of real and fictitious persons
3. Summation by couples brings into relief concrete capital

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