INDEX

capital by classical economists,
63; mistake of distinguishing
between capital and, 186-187;
an example of capital yielding
an approximately perpetual
annuity, 209; determination of
uses of, 221; benefits of speculation
 in, 222; taxation of, 254.
Land improvements, 5, 7, 334.
Landry, time element in concept of
capital of, 57.
Lawyer, income and outgo accounts
of, 131-137, 162-164, 174-175.
Lease, wealth underlying rights of,
26, 34-35.
Liabilities, definition of, 67, 325, 334;
relation of capital-balance to,
looking to safety of a business,
81; true value of, derived from
assets, 84-85, 139 ; consideration
of, in income and outgo accounts,
134-135, 139-140, 162-164.
Liability, limited and contingent,
82-83.
Life insurance, steadying of income
by, 294, 295; method of computing
 pure level premium,
410-411.
Limited liability, in case of joint
stock company, 82-83.
Line method of representing income,
206-207, 371-372.
Liquidation, resulting from bankruptey,
 86; a crisis defined as a
time of general and forced, 296.
Loans, short-time: interest in case
of, 194-195, 198-199; rate of
discount employed for, 199, 204.
Logging camp accounts, 152-157, 318.
Lowell Institute, possibilities of
accumulation shown by, 225.

M

MacCulloch, on human beings as
wealth, 5 n.2; concept of capital
of, 55; quoted on wage fund
theory, 59.
Machines, offsetting of depreciation
in, 241-242.
MacLeod, H. D., definition of wealth
by, 4; concept of capital of, 55;
includes credit under capital, 96.
Marginal utility (desirability), definition
 of, 46, 331 ; mathematical
expression for, 344-345.

 

421

Marshall, Alfred, use of economic
terms by, 43, 46, 61; treatment
of capital by, 54; on distinction
between capital and non-capital,
57; on concept of income, 114,
117, 347-348; on avoidance of
double counting in concept of
income, 114; on transformation
of wealth, 145.
Marx, distinction between capital
and non-capital according to,
55; on relation between capital

and labor, 55; denies that
capital is productive, 56.
Measurement of psychic income,

177.
Measurement of services and disservices,
 19-20, 120-121.
Measurement of wealth, by quantity,
 8-9; by price, 9-11; by
value, 13-14; inaccuracies in,
15-17; expressed mathematieally,
 341-344.
Methods of avoiding
Risk.
Methods of balances and couples.
See Balances and Couples.

risk. See

Methods of standardizing income,
125-120, 243-247, 259-263,
293-294.

Meyer, R., on income, 355-356.
Mill, J. S., distinction between capital

 and non-capital by, 54;
capital itself regarded as a
product by, 55; quoted on

wage fund theory, 59.
Miner’s inch, 193, 208-209.
Mines, terminable income exemplified
by, 209, 210.
Mixter, editor of Rae’s Sociological
Theory of Capital, 65 n.'.
Money, uniformity of measurement
by means of, 15; irredeemable
paper, 27, 30; distinction between
 three elements (wealth,
property, certificates) to which
term is applied, 38.
Money-income, concept of, 103-104,
115, 117-118.
Money price, 335.
Money value, 337.
Money-wages not real wages, 104.
Monopoly, effect of tendency toward,
on risk element, 409.
Monopoly franchise, wealth underlying
 rights of, 25, 27, 29.