摘要:

The technique of national income accounting is a part of what Hicks has termed “The Fixprice Method”. Deflation is an attempt to approximate a real economy to a fixprice economy. It is shown that if the propositions of macro‐dynamics are to hold, this deflation cannot be done in accordance with the price structure prevailing at any particular historical time, but must use that given by the capital theory of value, viz., when returns to labour are equal to zero. For a labour‐abundant developing economy this will correspond to prices based on opportunity cost principles.As an illustration, sectoral incomes on this basis have been calculated for the industrial sector of the Indian economy for the years 1951

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1967.tb00731.x

出版商:Blackwell Publishing Ltd    

年代:1967

数据来源: WILEY

摘要:

Economists' use of the term “equality” in reference to a distribution of incomes has historically been in the sense of a consensus for some statistical characteristic(s) of the distribution rather than a firm concept of equality. Of course such a concept rests on appropriate welfare assumptions about income and its distribution, assumptions which, for the most part, have been left implicit (and unknown) in discussions of income equality in the literature.Our purpose in this paper is dual: first, we wish to discover an unambiguous, welfare‐related equality measure. This we accomplish through suitable assumptions on a social welfare function. What is produced is an “index” of equality which describes the performance of a given distribution relative to the maximum welfare derivable from the total income it represents. The measure thus depends functionally on the welfare attributes of income, something which in reality we know little about.This impasse leads us to inquire into the sensitivity of the index over specifications of the welfare function, which is done by comparing equality ranks for the states of the United States for 1960 under various functional forms and among curves within a given form. As an interesting secondary issue, the performance of traditional equality measures is tested relative to the welfare‐oriented index to discover implications about their welfare content.It is found that the equality index is, in certain ranges for the welfare function, insensitive to its specification. The findings lead directly to conclusions concerning traditional equality measures, their usefulness in correctly accounting for equality differences among alternative income distributions and, concomitantly, their implicit wel

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1967.tb00732.x

出版商:Blackwell Publishing Ltd    

年代:1967

数据来源: WILEY

摘要:

The contention in this paper is that the present method of treating interest and net rents as transfers rather than as payments for services provided creates problems in the measurement of production by industry and that the difficulties encountered in explaining the treatment of interest items in the different tables of the National Accounts are even more apparent when one views the National Accounts framework as an integrated reflection of economic reality.It is argued that the lending of money arises from the stretching out of the production and consumption process, and the interest charges constitute a charge for the administrative services and risk involved. This is somewhat analagous to the charges for hiring out real goods and services. A similar case is made for the treatment of rents with the exception of imputed net rent where it is contended that economic risk is incurred only when production is undertaken for sale and that there should be no entrepreneurial return where the production is for the use of the owner‐producer.It is suggested that an alternative treatment of interest and rents as payments for services is more realistic. Its adoption in the National Accounts would eliminate the need for imputations now made to account for the production of financial intermediaries, as well as the unconvincing explanations put forward for the present treatment of interest on consumer and public debt. Finally, it would serve to integrate the production accounts with the financial flows and the related financial structur

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1967.tb00733.x

出版商:Blackwell Publishing Ltd    

年代:1967

数据来源: WILEY

摘要:

This report summarizes the proceedings of a series of meetings called by the Conference on Research in Income and Wealth of the National Bureau of Economic Research in June of 1966. The major conclusions of the conference, as transmitted to the Statistical Office of the United Nations, were as follows: (1) The aim of integrating the various parts of the system of national accounts, including input‐output and financial transactions, is to be welcomed. (2) The more recently developed parts of the system need considerably more work to reach the same level of clarity and usefulness which the national income and product accounts have acquired. (3) Some simplification of the proposed basic system should be considered, involving the identification of a minimum of information that should and could be provided by all countries. (4) In line with the conference's overriding interest in national accounts as an instrument for economic analysis and a means of more informed policy formation, the proposed system needs considerable strengthening in the field of income distributio

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1967.tb00734.x

出版商:Blackwell Publishing Ltd    

年代:1967

数据来源: WILEY

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1967.tb00735.x

出版商:Blackwell Publishing Ltd    

年代:1967

数据来源: WILEY