The Evaluation of ‘Social Income’: Capital Formation and Wealth

Paul Samuelson

Chapter Chapter 3 in The Theory of Capital, 1961, pp 32-57 from Palgrave Macmillan

Abstract: Abstract An earlier paper1 dealt with problems of interpreting aggregate data on production and consumption. The present paper explores theoretical problems raised for national income calculation by investment, technological change, and uncertainty windfalls. It purposely works with simple and strong models so that the intrinsic difficulties will not be obscured by observational difficulties of detail. Government expenditure and taxes are throughout ignored.

Keywords: Physical Capital; Capital Gain; Capital Formation; Conceptual Problem; Reproduction Cost (search for similar items in EconPapers)
Date: 1961
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-08452-4_3

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DOI: 10.1007/978-1-349-08452-4_3

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