THE MEASUREMENT OF REAL INCOME
THE MEASUREMENT OF REAL INCOME
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实际收入的计量
DOI:
10.1093/oxfordjournals.oep.a040799
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发表时间:
1958
期刊:
影响因子:
--
通讯作者:
J. Hicks
中科院分区:
文献类型:
--
作者:
J. Hicks
There were two main contentions in the 1940 paper:(1) that measurement in real terms may mean valuation in respect of utility, or in respect of cost, and that these meanings are in principle different;(2) that the utility measure is independent of the possibility of aggregating utilities. The first of these contentions appears to have stood up quite well to the fire of controversy; though there has been some criticism of the practical consequences which I drew from it, 3 the theoretical validity of the distinction itself remains unimpugned. But the second, as presented, has been shown to be fallacious. How much remains, when this error has been corrected, is a matter that has been much discussed by others; but I think that I have some right (or perhaps duty) to examine it myself.* I propose in this paper to take for granted the distinction between cost and utility measures; and to concentrate attention upon the utility measure—the valuation of the Social Income on the side of utility. This1" The Valuation of the Social Income'(Economica, 1940); hereinafter cited as VSI* A Revision of Demand Theory (Oxford, 1966); hereinafter cited as RDT I may perhaps alludo to the distinction which I make in that book to the two uses of Demand Theory—the Econometric use and the use in Welfare Economics. It can well be doubted, as my critics have not been slow to point out, whether it was sensible to take a purely static theory and to develop it, solely for econometric purposes, quite as far as I did devolop it in my book. I should indeed myself have been shy of doing this if I had not had the other purpose in mind also. Though I am not yet ready with the companion volume on this other application, which is obviously called for, some of the main things which I have to say in that direction will emerge in the course of the present paper.* As by Kuznets," The Valuation of the Social Income'(Economiea, 1948). That the existence of indirect taxes does not necessarily imply a divergence between prices and social cOBts (since the taxes may do no more than cover the contributions to production of public services that are not otherwise paid for) is a point that may be accepted. But it is most difficult to see that such a correspondence can be generally valid. I should even have thought that the statistician would get himself into the most perplexing difficulties if he merely assumed, as a convention, that it could always (even in a'Welfare state') be taken to exist.