So long as we confine our attention to income from property, and leave out of account any increment or decrement in the value of prospects due to changes in people's own earning power (accumulation or decumulation of "Human Capital”), Income No. 1 ex post is not a subjective affair, like other kinds of income; it is almost completely objective. (John Hicks)

So long as we confine our attention to income from property, and leave out of account any increment or decrement in the value of prospects due to changes in people's own earning power (accumulation or decumulation of "Human Capital”), Income No. 1 ex post is not a subjective affair, like other kinds of income; it is almost completely objective.

John Hicks

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account almost attention due human increment leave objective power property value

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