“The standard stream corresponding to Income No. 3 is constant in real terms… We ask… how much he would be receiving if he were getting a standard stream of the same present value as his actual expected receipts. This amount is his income.”

— John Hicks

Source: Value and capital, (1939), p. 184 as cited in: Asheim, Geir B. "Economic analysis of sustainability." Justifying, Characterizing and Indicating Sustainability (2007): 1-15.

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John Hicks14

British economist 1904–1989

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