A Simple Concept of Income

Carsten Heyn-Johnsen

Chapter 5 in Themes in Modern Macroeconomics, 1992, pp 71-97 from Palgrave Macmillan

Abstract: Abstract The income stream is the most fundamental fact of economic life (Fisher, 1930). Nothing has been said about Income, about Saving ... I do not believe that they are suitable tools for any analysis which aims at logical precision (Hicks, 1968, p. 171). The method I take ... is not very usual; for instead of using only Comparative and superlative Words and Intellectual Arguments, I have taken the course (as a Specimen of the Political Arithmetick I have long aimed at) to express myself in terms of Number, Weight and Measure; to use only Arguments of Sense and to consider only such Causes as have visible Foundations in Nature, leaving those that depend on the Mutable Minds, Opinions, Appetites and Passions of particular men, to the considerations of others (Petty, 1899, p. 244).

Keywords: Balance Sheet; Real Income; Simple Concept; Wage Earner; Money Income (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12511-1_5

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DOI: 10.1007/978-1-349-12511-1_5

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