INDEX

est rate, 120; determinesspending or saving, 335-338;differs for each individual andeach income, 96-97; preferencefor present over future income,99; individual, adjusted to in-terest rate and opportunity,272-275; individual, dependson income stream, 249ff .; indi-vidual, depends on personalqualities, 249ff.; measured, 62;relative to income stream,equations for, 290; relative tointerest rate, equations for,291; represented by a Will-ingness line, 238-240, shown onchart, 239.

Impatience, rates of, equalizedthrough borrowing and lend-ing, 104-106, 117-119; high de-gree (rate) of, accompanied byhigh interest, borrowing, spend-ing, and flimsy instruments,373; identical with interestrate, 104-106; low rate of, ac-companied by interest, lending,saving, durable instruments,373.

Impatience and Investment op-portunity, 280-282.

Impatience and opportunity,combined in my theory, ix;contrasted, 183; determines in-stitutions and interest rate,489-491.

Implicit interest, 8, 61, 117, 209,382.

Improvidence, loans to offset,357.

Increments in value are not in-come, 26-28.

Ingo, a substitute for outgo,19 n.

Interactions, described, 20-21.

Income, annuity, assuming wait-ing a cost, 536-539; from tree,assuming waiting a cost, 535-

536; all, produced from capitalwealth, 332; all, is (1) rent,(2) interest, 32-34; all, subjectto capitalization, 58; assumedto flow spontaneously, 102;basis of capital concept, 3; andcapital separated by bookkeep-ing principles, 25; derivedfrom capital goods, capitalvalue derived from income, 14-15; early enjoyment, preferredto deferred enjoyment, 63-65;excludes capital gain, 332; nota flow of wealth, 457; fromland is (1) rent, (2) interest,33; human enjoyment, 5; ineconomics, 13; identical withinterest, 332; and capital gain,332; increased by invention,354-355; individual, adjustedto interest rate, 253ff.; themost fundamental economicconcept, 3, 42; net, equals en-joyment less labor pain, 22-23;net, of a corporation is zero,23; the important factor, 91-94; objective or real, 5; oppor-tunity to increase future, 103;and outcome, 19n; producedby capital goods and men, 19;psychic, measured, 453, 456-457; real, consists of outerevents, which give inner en-joyments, 5-6; real, measuredby cost of goods consumed, 9-10; as a rate per cent on itscapitalized value, 58; relationsof, to capital, 3-35; a series ofevents, 3; subjective or psy-chic, 3, 4, 5; supply and de-mand of, explains interest rate,454; total, equals enjoymentincome, 23-24; variations in,cause loan classification, 360-365.

Income concept, basic, ix; epito-mized, 3-12; restated, 453.

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