ABSTRACT
A recent article in a Soviet economic journal contains a hint that a change from 1926-7 prices to present-day prices as a basis for valuing gross industrial output is now contemplated. It has been estimated that the items which are excluded by the Soviet definition and included in the American and British definitions of national income amount in American conditions to about a third of the American national income and in Soviet conditions to slightly more than one-tenth of the Soviet national income. The published output-figures for Soviet industry are, of course, figures of gross production, since they consist of quantities of final output of all enterprises multiplied by price. Though commonly met with in uninformed circles before the war, it was seldom if ever accepted, at any rate in its crude form, by anyone with much experience of handling Soviet statistics and submitting them to normal tests of consistency.
