“So long as we confine our attention to income from property, and leave out of account any increment or decrement in the value of prospects due to changes in people's own earning power (accumulation or decumulation of “Human Capital”), Income No. 1 ex post is not a subjective affair, like other kinds of income; it is almost completely objective.”

178-9
Value and capital, (1939)

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John Hicks14

British economist 1904–1989

Harvey S. Rosen (1949) American economist

Source: Public Finance - International Edition - Sixth Edition, Chapter 19, Taxes on Consumption and Wealth, p. 453

“I can now present the first fundamental law of capitalism, which links the capital stock to the flow of income from capital. The capital/income ratio β is related in a simple way to the share of income from capital in national income, denoted α. The formula is
α = r × β
Where r is the rate of return on capital.
For example, if β=600% and r = 5%, then α = r × β = 30%.
In other words, if national wealth represents the equivalent of six years of national income, and the rate of return on capital is 5 percent per year, then capital’s share in national income is 30 percent.”

Thomas Piketty book Capital in the Twenty-First Century

Source: Capital in the Twenty-First Century (2013), p. 52.

“The incoming government is not going to leave our people in the dark. Paddy likes to know what the story is.”

Enda Kenny (1951) Irish Fine Gael politician and Taoiseach

During an election count interview with Richard Crowley on RTÉ Television on 26 February 2011. “Paddy likes to know what the story is” – Ireland’s Taoiseach-in-waiting promises to tell the truth http://www.thejournal.ie/paddy-likes-to-know-what-the-story-is-irelands-taoiseach-in-waiting-promises-to-tell-the-truth-92285-Feb2011/ TheJournal.ie, 2011-02-26. Ministers would like Paddy to know that they didn't know at all, at all http://www.independent.ie/opinion/analysis/ministers-would-like-paddy-to-know-that-they-didnt-know-at-all-at-all-30138535.html Sunday Independent, 2014-03-30. Ireland's historic election: What they said http://www.spotlight-online.de/news/politics/irelands-historic-election-what-they-said Spotlight: Einfach Englisch! 2011-02-28. 2010s

“Despite a voluminous and often fervent literature on "income distribution," the cold fact is that most income is not distributed: It is earned.”

Thomas Sowell (1930) American economist, social theorist, political philosopher and author

“By the standards of honest, if unorthodox, accounting, government workers don't pay taxes, but are paid out of taxes. In other words, they pay taxes out of money confiscated from taxpayers, who, in turn, pay taxes twice: on their own income and on the income of members of the bureaucracy. At the very least, this should disqualify state workers from voting.”

Ilana Mercer South African writer

“Life in the Oink Sector,” http://www.ilanamercer.com/phprunner/public_article_list_view.php?editid1=516 WorldNetDaily.com, September 25, 2009. 2000s, 2009

“So far we have studies how, for each commodity by itself, the law of demand in connection with the conditions of production of that commodity, determines the price of it and regulates the incomes of its producers. We considered as given and invariable the prices of other commodities and the incomes of other producers; but, in reality the economic system is a whole of which the parts are connected and react on each other. An increase in the incomes of the producers of commodity A will affect the demand for commodities Band C, etc., and the incomes of their producers, and, by its reaction will involve a change in the demand for A. It seems, therefore, as if, for a complete and rigorous solution of the problems relative to some parts of the economic system, it were indispensable to take the entire system into consideration. But this would surpass the powers of mathematical analysis and of our practical methods of calculation, even if the values of all the constants could be assigned to them numerically.”

Antoine Augustin Cournot Researches into the Mathematical Principles of the Theory of Wealth

Source: Researches into the Mathematical Principles of the Theory of Wealth, 1897, p. 137

“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.

“The purpose of income calculations in practical affairs is to give people an indication of the amount which they can consume without impoverishing themselves. Following out this idea, it would seem that we ought to define a man's income as the maximum value which he can consume during a week, and still expect to be as well off at the end of the week as he was at the beginning.”

John Hicks (1904–1989) British economist

Source: Value and capital, (1939), p. 172

“Regulatory policies are inherently redistributive; that is, they involve the seizure of earned income for purposes of allocating this income in ways the government’s policymakers believe are more important than do those whose income has been seized.”

Tibor R. Machan (1939–2016) Hungarian-American philosopher

Source: Private Rights and Public Illusions (1994), p. 154

“If it makes sense to transfer income from rich to poor people within a generation, why shouldn't we transfer income from rich to poor generations?”

Harvey S. Rosen (1949) American economist

Source: Public Finance - International Edition - Sixth Edition, Chapter 18, Deficit Finance, p. 435

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