INDEX 
Physical return of capital, 185, 186. 
Piecework, terms used in measure- 
ment of, 19-20. 
Pierson, N. G., definition of income 
adopted by, 102 n.}, 346. 
Pigou, cited on utility, 47. 
Pitt, on sinking fund, 243. 
Pocket cash, risk-meeting function 
of, 290. 
Polar coordinates, representation of 
capital and income by, 393- 
395. 
Practice (physician’s), wealth repre- 
sented by, 29. 
Prediction. See Forecast. 
Preferred stock, 85; share of, to 
illustrate riskless value, 280. 
Premium concept of interest, 194— 
196, 247, 334; interchange- 
ability of, with price concept, 
196-199, 362-366; represented 
mathematically and by diagram, 
358-361. 
Price, Richard, financial theories of, 
243. 
Price, definition of, 11, 335; various 
usages of term (money, market, 
and appraised or reasonable), 
13-14; distinction between 
quantity, value, and, 14-15; 
relation of, to past costs and 
future expectations, 189-190; 
rate of interest called, of money 
or capital, 191; money, defined, 
335; dimensions of wealth, 
value, and, 341-344. 
Price concept of interest, 191-194, 
196, 247, 334; interchange- 
ability of, with premium concept, 
196-199, 362-366; mathematical 
relations between rates reckoned 
annually, semi-annually, ete., 
according to, 357-358. 
Primary (natural) income, 115. 
Principal, nominal, in case of bonds, 
211-212, 215, 217, 335. 
Probability, a matter of human 
estimate, not merely mathe- 
matics, 270-271; coefficient of, 
276-277, 331, 335, 403; appli- 
cation of principles of, to valua- 
tion of capital, 277-279, 403- 
406; theory of, applied to insur- 
ance, 295. 
423 
Production, problem of, in con- 
cept of capital, 55-56, 145- 
148 ; cost of, 151, 173-174, 
184. 
Productive processes, 145-148, 335. 
Productive services, 145. 
Productivity, physical and value, 
185-188, 335. 
Productivity theory, 187-188. 
Profits, undivided, 68. 
Promises of refraining, wealth under- 
lying, 27, 28. 
Property, definition of, 18, 325, 335; 
rights in, 20-22; wealth and, 
correlative terms and coexten- 
sive, 22-23, 95-96; types of 
chief forms of, 26-27; partial 
and total rights to, 34-37, 95—- 
96, 335; necessity of separating 
from wealth, certificates of 
property, services, and utility, 
38; confusion of ideas regard- 
ing, 38-40; regulation of in- 
come by sale of, 127, 244- 
245. 
Property rights, definition of, 18, 22, 
324, 335 ; table illustrating exist- 
ence of wealth behind, 26-27; 
overlying of, by one another, 31 
32; classification of, 36-37; 
method of determining income 
from collection of, 130. See 
Ownership. 
Pseudo-insolvency, 82. 
Psychic income, 167-169, 333; 
measurement of, 177. 
Purchase, definition of, 11, 335. 
Purchasing power, use of phrase, 
191. 
Put, option known as a, 299. 
Q 
Quantity, measurement of wealth in 
units of, 8-9; distinction be- 
tween price, value, and, 14-15; 
conceived as a fund (capital) 
or a flow (income), 51-52; 
measurement of services by, 120- 
121; ratio of, of services to 
quantity of capital yielding those 
services (physical productivity), 
185; dimensions of price, value, 
and, 341-344. 
  
Probability computations, 283-284, 
408-410. 
   
Quarries, terminable income exempli= 
fied by, 209, 210.