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˹éÒ 18
44 be spent on “...subsistence, conveniences, and amusements” without
depleting the productivity of capital stock.” The second way in which the neo-
classical economists modified their calculation of income was to abstractor
minimize the role ...
44 be spent on “...subsistence, conveniences, and amusements” without
depleting the productivity of capital stock.” The second way in which the neo-
classical economists modified their calculation of income was to abstractor
minimize the role ...
˹éÒ 19
GDP as it is currently constructed tends to overstate the Hicksian income of
resource-related activities by failing to separate capital consumption, which is a
decrease in wealth, from income. The gross revenue from a sale of non-
renewable ...
GDP as it is currently constructed tends to overstate the Hicksian income of
resource-related activities by failing to separate capital consumption, which is a
decrease in wealth, from income. The gross revenue from a sale of non-
renewable ...
˹éÒ 22
But if capital consumption occurred without an offsetting maintenance program,
GDP would be understated by the amount of the missing program. NDP
measures would not be changed as a result. This revision would be consistent
with the ...
But if capital consumption occurred without an offsetting maintenance program,
GDP would be understated by the amount of the missing program. NDP
measures would not be changed as a result. This revision would be consistent
with the ...
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