Date: Mon, 7 Feb 2000 13:15:48 -0500 (EST) From: bhandari at mmp.Princeton.EDU (Rakesh Bhandari)
>
>[mbs] Eisner's understanding of public investment is
>perfectly standard, as far as neo-classical econ goes.
>One of his contributions was the "Total System of
>Income Accounts (TSIA)," which laid out how to define and
>measure much that is left out of GDP but goes to a
>broader concept of economic welfare.
>
>Public capital in Eisner is simply facilities that
>make possible a future stream of benefits (not necessarily
>in money form).
I don't follow this Max. If capital can yield benefits in non monetary form, then what is the implicit defition of capital?
I know Marx took four volumes to specify his understanding of the nature of capital...