Journal Article A Note on Variable Prices and Foreign Trade Multipliers Get access W. Beckerman W. Beckerman Paris Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 21, Issue 2, 1953, Pages 162–164, https://doi.org/10.2307/2296008 Published: 01 January 1953

Journal Article Specialisation and Efficiency in World Production Get access Lionel W. McKenzie Lionel W. McKenzie Durham, North Carolina Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 21, Issue 3, 1953, Pages 165–180, https://doi.org/10.2307/2295770 Published: 01 January 1953

Is Group Choice a Part of Economics? Reply Get access Bushrod W. Allin Bushrod W. Allin Bureau of Agricultural Economics, Washington, D. C. Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 67, Issue 4, November 1953, Pages 613–614, https://doi.org/10.2307/1883607 Published: 01 November 1953

Introduction, 97. — I. The propensity to develop pure science, 98. — II. The propensity to invent, 102. — III. The propensity to innovate, 105. — IV. The propensity to finance innovation, 108. — V. The propensity to accept innovations, 110.

Introduction, 362. — I. Ellis and the economic calculus of individual preference, 362. — II. Knight and the science of the price mechanism, 367. — III. Survey of economic education by McKee and Moulton, 373. — IV. Report on undergraduate teaching of economics, 374. — V. Summary, 377.

3.5 per cent of national income, while subtractions amount to only 0.4 per cent. (See p. I04.) 4. The so-called technical bias works both ways. It may result in some cases from greater detail of information for I937 than for I899the reason ascribed by Mr. Lebergott-but it results in many more cases simnply from greater diversification of products. High concentration is less indicative of monopoly for a product with many close substitutes than for one with few. In view of the vast proliferation of products and expansion of markets over the last half century, one may doubt the comparability of any specific measure of concentration as applied to both beginning and end of the period. As in the case of growth of output, no index can adequately reflect such qualitative factors. This is not to say that they should be overlooked. 5. The term slight is not used to describe the rise of 6 percentage points in the fraction of private income but the rise of i.9 percentage points in the fraction of national income. The former rise is characterized in my monograph as substantial, a fit counterpart for significant. (See p. 45.) Most of these issues are discussed in my monograph. I cannot agree with Mr. Lebergott that his criticisms fundamentally alter the picture of the growth of monopoly and concentration gathered from recent studies, such as those of Adelman, Stigler, and myself. Nevertheless, such criticisms are of inestimable importance in pointing out errors, no matter how minor they might seem; for the goal is to unearth facts, not to prove cases.

Abstract In this paper a distinction is drawn between national income statistics and social accounting, despite the close relation that exists between the two fields. The former field is viewed as being concerned with compilation and publication of isolated aggregate figures such as national income or gross national product which purport to provide over-all pictures of a nation's total economic activity. The latter field is concerned with details of structure and intra-sector flows in the context of a double-entry system of accounts. As a proper part of the system of social accounts various national income statistics may be synthesized. The purpose of a national system of accounts is to provide information concerning the economic activity of a country in concise and comprehensive fashion. This requires a systematic method of classifying economic transactions. This may be done in a variety of ways. One classification may be by type of economic activity, another classification may be by type of economic function and the formation of capital.