Knowledge that Transforms

Introduction: Progress of the Interstate Commerce Commission Valuations, 22. — I. The Commission's Reproduction Hypothesis, 25. — The reproduction program, 26. — Topographical conditions, 31. — Contingencies, 34. — II. Cost of Reproduction, 37. — Organization of the work, 39. — Basis of the inventory, 40. — Estimates and errors, 41. — Unit prices, 44. — Commission procedure, 47. — Expert testimony, 47. — "Overhead charges, " 48. — Interest during construction, 52. — III. Depreciation, 54. — Second hand materials, 55. — Obsolescence or "functional depreciation, " 55. — Observation and estimate, 57. — Deferred maintenance as depreciation, 60. — Capacity for service, 62. — Maintenance as investment, 64. — IV. Land, 67. — Present value of land, 68. — Commission procedure, 69. — Texas Midland controversy, 70. — Land valuation and condemnation practice, 75. — Hypothetical cost of reacquiring land, 78. — Minnesota Rate cases on land valuation, 79. — "Railway value, " 81. — Value and cost, 83. — The unearned increment, earnings and value, 85.

A Nobel Prize in Economics Get access The Quarterly Journal of Economics, Volume 33, Issue 4, August 1919, Page 737, https://doi.org/10.2307/1885283 Published: 01 August 1919

Journal Article Another Reason Why War Prices are High Prices Get access G. O. Virtue G. O. Virtue University of Nebraska Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 33, Issue 4, August 1919, Pages 729–733, https://doi.org/10.2307/1885281 Published: 01 August 1919

A Rejoinder T. N. Carver T. N. Carver Harvard University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 33, Issue 3, May 1919, Pages 570–571, https://doi.org/10.2307/1885953 Published: 01 May 1919

Journal Article International Trade and Prices Get access J. E. Norton J. E. Norton Cambridge, England Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 33, Issue 2, February 1919, Pages 368–373, https://doi.org/10.2307/1884739 Published: 01 February 1919

A Re-Rejoinder Get access H. G. Brown H. G. Brown Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 33, Issue 3, May 1919, Pages 571–572, https://doi.org/10.2307/1885954 Published: 01 May 1919

Journal Article An Oversight in the Theory of Incidence Get access H. G. Brown H. G. Brown University of Missouri Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 33, Issue 4, August 1919, Pages 734–736, https://doi.org/10.2307/1885282 Published: 01 August 1919

I. Luxury defined as consumption which does not increase capacity for labor, 298. — Superfluities include consumption necessary for business connection, 300. — Short and long periods, 301. — Capacity for labor varies with consumption of necessaries, 301. — Classification of commodities, 302. — II. Demand for necessaries inelastic because (a) their consumption benefits both present and future, 304. — (b) Capacity for labor is limited, 306. — A tax on luxuries would divert labor to production of capital, also lessening demand, 307. — Labor would become more productive and real wages would rise, 308. — Wealth would be increased, 309; and transferred to people whose effective desire of accumulation is strong, 310. — III. Possible decrease in quantity of labor expended, 314. — Self-development not labor, 315. — Leisure, defined as time not devoted to labor, is either necessary or superfluous, 316. — Annual product varies inversely with superfluous leisure enjoyed, and might be either decreased or increased, 318. — Rise of wages might check fall of interest; convergence of altruism and foresight, 319.

The classical economists regarded minimum profits as an element in cost of production, 115. — Walker's rent theory, 118. — Similar views by other Americans, 119. — By Europeans, 121. — Profits regarded as wages of labor by still others, 123. — Distinction needed between earned efficiency profits and unearned scarcity profits, 127. — Efficiency profits recognized by the law, 128. — Patents, trade secrets, invention, 129. — Judgment and risk-taking, 133. — Surplus or scarcity profits differ from efficiency profits, 134. — Are not an element of cost, 135. — Defects of the labor theory, 136.

I. Public Debts, 161. — II. Revenues and Expenditures, 169. — III. Note Circulation, 179.