Month: April 2018
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Are Holding Gains “Pseudo” Income? A Response to Martin Sandbu
I just noticed with pleasure that Martin Sandbu, whose work I much admire, has posted a response to a thread of posts between me and Matthew Klein. Here in chronological order: Me: Why Economists Don’t Know How to Think about Wealth (or Profits) Matthew: The virtues and pitfalls of putting capital gains into the national accounts Me:…
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Wonky: More on Martin Sandbu’s “Pseudo” Income and Saving
In my previous post, I replied to Martin Sandbu’s interesting response to my (and Matthew Klein’s) previous posts on holding gains, income, saving, and wealth. Here some more (accounting-dweeby) thinking on the subject, which I post here to avoid clogging the previous and making it even more overlong. Another way to explain this issue: I…