Three Economic Systems Clash in Burma J. Russell Andrus J. Russell Andrus Judson College, Rangoon Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 3, Issue 2, February 1936, Pages 140–146, https://doi.org/10.2307/2967505 Published: 01 February 1936

I. General Marketing Channels, 659. — Graphic Summary, 663. — II. Wholesale Marketing, 664. — Relative Importance of Different Types, 665. — Expenses, Credit, Wages, 668. — Organization, 570. — Size, 670. — Chains, 671. — Geographic Distribution, 671. — III. Retail Marketing, 672. — Expenses, Stocks on Hand, Credit, 672. — Organization, 674. — Size, 675. — Chains, 676. — Geographic Distribution, 677. — Conclusion, 677.

Introduction, 42.—I. Economic conditions in France upon the death of Louis XIV, 43.—II. The General Bank and the Company of the West, 44.— III. The Royal Bank and the Company of the Indies, 47.— IV. Sources of price and wage statistics, 48.— V. Commodity prices, 50.— VI. Why prices rose, 62.— VII. Group price movements, 64.— VIII. Wages: money and real, 66.— IX. Comparison of prices at London, Madrid, Philadelphia, and Paris, 67.—X. Summary and Conclusions, 69.

I. Some shortcomings of the usual explanations of price rigidities, 456.—The method of attack on the problem, 459.— II. The coexistence of monopoly power and rigid prices, 459.— III. The nature of the monopoly equilibrium and of the movement between positions of monopoly equilibrium as "causes" of rigidity, 463.— IV. The choice of rigid prices, as such, under conditions of monopoly power: 1. As an aid to oligopoly adjustment, 466; 2. As an aid to resale price maintenance, 468; 3. As result of the use of average costs in pricing, 470; 4. As result of monopoly inertia, 472. — V. Conclusions and bearing on public policy, 473.

Journal Article Distribution and Economic Progress: A Revised Version Get access J. R. Hicks J. R. Hicks Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 4, Issue 1, October 1936, Pages 1–12, https://doi.org/10.2307/2967656 Published: 01 October 1936

Reviews the book "Introduction to Federal Taxation," by George T. Altman.

The article discusses the role that budgets and a system of budgetary control play in the development and operation of standard costs. In fact, the statement can safely be made that budgeting must precede the accurate and effective determination of standard costs, at least as far as price standards of material, labor, and overhead are concerned, and conversely, a plan of budgetary control is much more successfully installed in concerns having standardized production processes and operating under standard-cost-accounting systems. Budgetary control and standard costs are inseparable and are each a necessary adjunct of managerial planning. Standard costs are estimated costs that are believed to represent ideal conditions to which it is hoped that actual costs may be made to conform. Standard costs are neither actual average, nor normal costs, but are estimates of what costs should be under as nearly perfect conditions as it is possible to secure. Standard costs may, therefore, be defined as representing a forecast of what costs should be under normal conditions, and as furnishing a basis for measuring productive efficiency.

The article says that it is good educational psychology to explain difficult topics by simple diagrams. Diagrams in economics books have long explained the forces of supply and demand. Diagrams have frequently showed the circulation of money. There is, in fact, no value in keeping a thing difficult that might he made simple and easily understood by a diagram. The article further says that annuities constitute the axis of the entire field of actuarial science. Innumerable business problems are entirely or in part annuities and they are found in accounting and insurance, and even in corporation finance and public finance. The article presents a diagram to reveal their exact nature and which can be remembered much longer than any well-worded page. The graphic method of showing annuities can be used for many types of annuities and kinds of problems. The horizontal scale gives the time in periods from left to right. The vertical scale is used only to show the sequence of rents of the annuity, the first at the top and the last at the bottom. The interest is shown as an addition to the rents in order to give the final amount or as an addition to the initial present worth in order to give the rents.

The article focuses on the accounting concepts involved in depreciation. Early reports show that provisions were made for fixed assets wearing out; and parliamentary debates also show that the joint-stock companies whose accounts were made up under the direction of auditors, were required to set aside a certain sum for the depreciation of the machinery. But the early Income Tax Acts did not provide for the depreciation of assets. When they did begin to take cognizance of this deduction it was through an allowance for repairs. England began her income tax, as such, by the Act of 1798, yet it was not until the act of the following year that even an allowance for repairs was made. The Act of 1806 made several changes in previous laws but the only one of interest was the elimination under Schedule A of the allowance for repairs to houses. That allowance was not reintroduced until 1894. The reason for the immediate abandonment, as stated in the Guide Book, was that it had been found to be inadequate and was demanded in many cases where the repairs were done by the tenants.