“[In order to define the distinction between a grant and an exchange transaction, Boulding has used the net worth criterion] If there is no decrease in the net worth of either party, the transaction is exchange; if there is, it contains some grant element and is an explicit or implicit grant.”

—  Kenneth E. Boulding

Source: 1970s, The Economy of Love and Fear, 1973, p. 88 as cited in: Omicron Delta Epsilon, Omicron Chi Epsilon (1997) The American economist. Vol. 41-42. p. 20

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Kenneth E. Boulding 163
British-American economist 1910–1993

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