The Effect of the Oil Crisis : funds from which contractual earnings can be fInanced may be relied upon to grow at a steady rate, neither more nor less rapidly than, say, 5 per cent per annum. Such contractual incomes are in respect of resources used domestically, which suggests that item 9 of Table 111.1 should be excluded. contracts are in respect of incomes, which are, of course,

doi:10.4324/9780203814628-80

Chapter

ABSTRACT

There is little or no difference between the suitability of items 4 and 6 as objectives for demand-management control. Depreciation allowances depend upon the loss of value of existing fixed capital goods and represent fairly conventional assessments that are not subject to great variation from year to year. For the purposes of ensuring a steady growth of the factorcost value of domestic production, item 5 makes no significant difference. The present volume is written on the assumption that it is item 6 of Table 111.1 (namely, the money value of the gross domestic product at factor cost) that has been chosen as the money income target. In what follows we refer to this term simply as the Money GDP.