Although welfare change measurements based on consumers' surplus concepts are widely employed in empirical studies, economists have been unable to achieve a satisfactory professional consensus on the theoretical basis, the role of approximations, and the appropriate scope and interpretation of such measurements. This paper attempts to provide a reasonably precise and comprehensive statement of the central ideas, techniques, and formulas that underlie current welfare change measurement. Traditional consumers' surplus techniques are replaced by the expenditures function, since the latter provides a rigorous theoretical resolution to defects of consumers' surplus in analyzing income effects. The paper also attempts to clarify several issues in dealing with simple intertemporal comparisons.

Let currency be issued with several commodities as backing. If certain pricing rules are strictly followed, it is shown that currency can then be redeemed without restriction for any of the commodities and that, according to a certain definition, the currency retains constant value, so that general inflation cannot occur.

The argument of efficient versus inefficient allocation of resources under share tenancy has received considerable attention in the literature. The purpose of this article is to show that share leasing does not result in inefficient resource use. This paper demonstrates that an arrangement in which rent is some percentage of farm output during a certain period of time for a given acreage yields an equilibrium solution with an efficient allocation of resources. A geometric proof, economic interpretation, and some general observations are provided.