Teaching Hicks How to Earn Interest Professionally: Hicks' Broken-Window Income Definition
5 Pages Posted: 3 Sep 2013 Last revised: 10 Sep 2013
Date Written: September 1, 2013
Abstract
Hicks is one of the architects of national accounting. This paper proves that his suggested method has some attitude problem, and non-professional. Instead, this paper teaches Hicks how to conduct a professional lending business. Subsequently, it is found that Hicks' original interest is cost of the professional business. Based on Bastiat's broken-window parable, this paper proves that such cost cannot be treated as other people's income.
Keywords: National Income, Interest, Lending Business
JEL Classification: E01
Suggested Citation: Suggested Citation
Choi, Hak, Teaching Hicks How to Earn Interest Professionally: Hicks' Broken-Window Income Definition (September 1, 2013). Available at SSRN: https://ssrn.com/abstract=2319013 or http://dx.doi.org/10.2139/ssrn.2319013
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