IN TERMS OF FORMULAS

of events is thus sufficient to maintain a fair uniformity-in the income stream for society as a whole.

(2) The tendency toward uniformity is also favoredin real life by the fact that the income stream is notfixed, but may be modified in other ways than by bor-rowing and lending as in accordance with investment op-portunities. The significance of these modifications isalgebraically considered in the next chapter.