ANALYTICAL TABLE OF CONTENTS

CHAPTER I

INCOME AND CAPITAL

PAGE

§ 1. Subjective, or Enjoyment, Income. 3

§ 2. Objective, or Real, Income (Our “Living”). 5

§ 3. Cost of Living, a Measure of Real Income. 6

§ 4. Cost of an Article vs. Cost of Its Use. 8

§ 5. Measuring at the Domestic Threshold. 9

§ 6. Money Income.10

§ 7. Capital Value.12

§ 8. The Rate of Interest.13

§ 9. Discounting Is Fundamental.14

§ 10. Costs, or Negative Income.15

§ 11. The Discount Principle Applied.16

§ 12. Double Entry Bookkeeping.18

§ 13. Simplicity Underlying Complications.22

§ 14. Capital Gain Not Income.25

§ 15. Capital Income Relations.28

§ 16. Application to This Book.29

§ 17. Confusions to be Avoided.31

§ 18. A Working Concept of the Rate of Interest .... 34

CHAPTER II

MONEY INTEREST AND REAL INTEREST

§ 1. Introduction.36

§ 2. Assuming Foresight.37

§ 3. Limitations of Theory.40

§ 4. Real and Money Interest.41

CHAPTER III

SOME COMMON PITFALLS

§ 1. Introduction.45

§ 2. The Exploitation Explanation of Interest.48

§ 3. Interest-Taking Survives All Opposition.52

§ 4. Naive Productivity Explanations.53

§ 5. Two Other Pitfalls.57

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