Jump to ContentJump to Main Navigation
Capital and TimeA Neo-Austrian Theory$
Users without a subscription are not able to see the full content.

J. R. Hicks

Print publication date: 1987

Print ISBN-13: 9780198772866

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198772866.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 14 May 2021

Social Accounting

Social Accounting

(p.27) III Social Accounting
Capital and Time

John Hicks

Oxford University Press

This chapter constructs a model of an economy in terms of its productive processes. It presents the Social Accounting Equation, and argues that it should be viewed as a definition of profits. It draws a clear distinction between the ‘ideal’ social accounting system, such as it is natural to use in theory, and the practical system which inevitably stands proxy for it in applied economics. The former is based upon a forward-looking valuation of capital; the latter upon a backward-looking valuation. The former is self-consistent, automatically; the latter is not automatically self-consistent.

Keywords:   economic model, economy, productive processes, Social Accounting Equation, capital

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .