97-98 ; owner-method and 
wealth-method of, 97-98; of 
income, 250-254, 398-403; the- 
ory of advocates of single, 254; 
of land, 254. 
Taxing power, wealth underlying, 
27; nature of government’s, 
30-31. 
Tenant, rights of, 34-35. 
Time, element of: in concept of 
capital, 51-52, 56-57; in con- 
sidering interest, 196. 
Todhunter, Ralph, cited, 401. 
Total discount on a sum, 209-210, 
374-378. 
Total social wealth, diagrammatic 
summation of, 316-317. 
Total utility (Total desirability), 
44, 47, 331. 
Trade journals, risk element dimin- 
ished by, 291. 
Transaction, definition of, 159, 336. 
Transfer of wealth, 10-11, 149-152, 
158-159, 325, 336. 
Transformation of services through 
the human body, 167-168. 
Transformations of wealth, defini- 
tion of, 145, 325, 336 ; services or 
disservices according to point 
of view, 146; examples of, 147— 
148. 
Transportation of wealth, 148-149, 
325, 336. 
Trust, property held in, 31. 
Turgot, use of term ““éapital’’ by, 60. 
Tuttle, definition of wealth by, 4; 
distinction between capital and 
non-capital according to, 55; 
use of economic terms by, 60, 67. 
U 
Undesirability, definition of, 42, 336. 
Undesirable event, 123. 
Undivided profits, 68, 256-257. 
Usance of wealth, 117, 348. 
Use of desirable events, ‘“utility’’ 
to be distinguished from, 19, 43. 
Usufructs, wealth underlying rights 
in, 26. 
Utility, concept of, 19, 41, 42-43; 
to be separated from wealth, 
property, certificate of property, 
and services, 38; error of belief 
that wealth constitutes, 39-40; 
distinction between satisfaction 
INDEX 
and, 43-44, 53; total and mar- 
ginal, 44, 331; consideration of 
marginal, 44-46; total, 47; 
definition of marginal, expressed 
mathematically, 344-345. 
Vv 
Valuation of railways, 35-36, 151, 
284. 
Valuations in stock companies 
(bookkeeper’s and market’s), 
70-72. 
Value, definition of, 13, 336-337; 
various uses of term, and of 
term “price,” 13-14; distine- 
tion between quantity, price, 
and, 14; of control in case of 
railways, 35-36; measurement 
of services by, 120-121; deriva- 
tion of, from future and not from 
past, 188-189; riskless, mathe- 
matical, and commercial, 276— 
277, 280-283; dimensions of 
wealth, price, and, 341-344; 
increase of, not income, 351; 
formule for, of bond, 378-380. 
See Capital-value. 
Value productivity of capital, 185, 
186, 335. 
Value return of capital, 185-186, 
188-191, 202, 336; rate of, 229 
238; may be greater or less than 
rate of interest, 229-231. 
Variation, of income, and its rem- 
edies, 125-129, 243-247, 259- 
263, 293-294; of rate of inter- 
est, 220, 271-273, 284-285, 
390-393, 396-398; of dividends, 
281-282, 406-407. 
Venn, theory of chance of, 266. 
w 
Wage fund theory, 59. 
Wages, money, are not real, 104. 
Wagner, Adolf, on income, 125, 
353-354. 
Walker, Francis, 187. 
Walras, human beings counted as 
wealth by, 5 n.2; on. capital, 
54, 55-56, 63. 
Waste, an example of overbalancing 
of services by disservices, 120. 
Water-rights, an example of per- 
  
petual annuity, 193, 208-209. 
    
   
  
  
   
    
  
    
  
  
   
  
   
  
    
  
  
   
   
   
  
  
   
   
   
  
  
   
  
   
  
   
   
  
   
  
   
  
  
   
  
  
   
  
  
  
  
  
   
   
  
  
  
    
  
  
  
   
     
  
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