“National income is defined as the sum of all income available to the residents of a given country in a given year, regardless of the legal classification of that income.”

Source: Capital in the Twenty-First Century (2013), p. 43.

Adopted from Wikiquote. Last update Nov. 15, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "National income is defined as the sum of all income available to the residents of a given country in a given year, rega…" by Thomas Piketty?
Thomas Piketty photo
Thomas Piketty 24
French economist 1971

Related quotes

Bertil Ohlin photo

“International trade theory has, in my opinion, given far too much attention to the effects of certain variations, for example, in duties, on the national incomes, and too little to the effects on individual incomes. In many cases, changes in the sums count for very little, while changes in the individual incomes are distinctly relevant.”

Bertil Ohlin (1899–1979) Swedish economist and politician

Source: Interregional and international trade. (1933), p. 306 ; As cited in: Irwin, Douglas A. "Ohlin Versus Stolper-Samuelson." No. w7641. National bureau of economic research, 2000. p. 3.

Thomas Piketty photo
Logan Pearsall Smith photo

“There are few sorrows, however poignant, in which a good income is of no avail.”

Logan Pearsall Smith (1865–1946) British American-born writer

Life and Human Nature.
Afterthoughts (1931)

H.L. Mencken photo

“Wealth — Any income that is at least $100 more a year than the income of one's wife's sister's husband.”

H.L. Mencken (1880–1956) American journalist and writer

1940s–present, A Mencken Chrestomathy (1949)

“A social order in which the maximum legal income is not more than tenfold the minimum”

Kirby Page (1890–1957) American clergyman

Property (1935)
Context: A social order in which the maximum legal income is not more than tenfold the minimum... and in which competition for private profit has been eliminated, and in which social motivations are more dominant, is certain to be a more harmonious community than can ever be created by economic individualism.

Prasanta Chandra Mahalanobis photo
Simon Kuznets photo
Simon Kuznets photo

“The welfare of a nation can scarcely be inferred from a measurement of national income.”

Simon Kuznets (1901–1985) economist

Simon Kuznets in report to the Congress, 1934; Cited in: Gernot Kohler, ‎Emilio José Chaves (2003) Globalization: Critical Perspectives. p. 336

Robert A. Dahl photo
Milton Friedman photo

“Spending by government currently amounts to about 45 percent of national income. By that test, government owns 45 percent of the means of production that produce the national income. The U. S. is now 45 percent socialist.”

Milton Friedman (1912–2006) American economist, statistician, and writer

Article "We Have Socialism, Q.E.D." http://www.sangam.org/taraki/articles/2006/11-25_Friedman_MGR.php?uid=2075 in The New York Times (31 December 1989)

Related topics