ABSTRACT
A definition of the national income is given which does not claim any peculiar merits, but which can be readily reinterpreted in terms of other definitions. All goods and services are reckoned where possible at their current selling values. In this study no figure is included for the value of the work done, for which no payment is made, by women within the family economy: nor for the “imputed income” arising from motor-cars, furniture, and other consumer’s capital. The rents of dwelling-houses are, however, included. The primary source of information will be the figures of the quantity of income assessed to income-tax, but these must be corrected in certain respects to bring them into line with our definition of the national income. Certain income “earned” by the State must be brought into account.
