Re: Re: RE: Re: RE: Re: Keynesian economics 101

[Jim Devine]

At 11:15 AM 5/22/01 -0400, you wrote:
>Max Sawicky wrote:
>
>>Income is consumption plus the change in net worth.
>>Obviously NIPA does it differently.

Doug writes:
>To persons, yes. But economy-wide, if there's no production to offset it, 
>it's just vaporware.

also, note that it's _change in_ net worth that contributes to income, not 
the _level_ of net worth that does so.

Jim Devine [EMAIL PROTECTED] &  http://bellarmine.lmu.edu/~jdevine