Individual goods and social goods compared, 27. — Quantitative measurement of social goods, 28. — Ideal output of social goods, 30. — Individual voting on outputs, 32. — Individual voting on increments to existing outputs, 40. — Alternatives to voting, 42. — Distributing the cost of social goods, 44. — Social goods not equally available to all voters, 47.

Reviews the book "Introduction to Accounting for Students of Economics," by C.A. Ashley.

The difficulty presented by a circuit of intercom any ownership relations is familiar to those who are conversant with the preparation of consolidated statements. If Co. A owns 4/5 of the stock of Co. B and B owns 3/4 of the stock of C while C in turn owns 1/10 of A's stock, we have a situation which leads us into an infinite series when we apply the usual process of preparing a consolidated balance sheet. The equity of each company is dependent upon the equities of all of the other companies within the circuit. The standard method for the solution of problems of this type is the use of simultaneous equations. Each company has title to its own assets but of course those assets are subject to the claims of creditors so that the equity of stockholders in them is their net value. The profits earned after consolidation could be carried round and round the circuit until the remaining portion did not exceed one cent. Usually the fractional part of the stock of the major holding company in the group, which is owned by a subsidiary company, is small. As a result the amount carried forward to succeeding rounds of the circuit is rapidly reduced. But in spite of this fact the application of such a method would be very cumbersome indeed. However, it suggests a simple process, which obviates the necessity of using simultaneous equations.

Journal Article The Beveridge Plan and Local Government Finance Get access J. R. Hicks, J. R. Hicks Manchester Search for other works by this author on: Oxford Academic Google Scholar U. K. Hicks U. K. Hicks Liverpool Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 11, Issue 1, Winter 1943, Pages 1–19, https://doi.org/10.2307/2967515 Published: 01 December 1943

Journal Article A Limitation upon the Differential Wage Doctrine Get access David R. Roberts David R. Roberts Allegheny College Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 57, Issue 2, February 1943, Pages 314–322, https://doi.org/10.2307/1882756 Published: 01 February 1943