The Nature of Capital and Income

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The Nature of Capital and Income is a foundational economic treatise by Irving Fisher that rigorously analyzes the concepts of capital, income, and their interrelationship in value theory and interest.

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The Nature of Capital and Income canonical 1

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Predicate Object
instanceOf book
economic treatise
academicDiscipline economics
aimsTo clarify the conceptual foundations of capital and income
provide a rigorous basis for interest theory
author Irving Fisher
citedAs a classic in capital theory
a foundational work in the theory of income and interest
countryOfOrigin United States of America
surface form: United States
describes capital as the present value of future income streams
income as a flow of services or returns over time
field capital theory
economics
financial economics
interest theory
followedBy Capital and Interest
surface form: The Rate of Interest
genre academic literature
non-fiction
hasEdition first edition 1906
hasPart discussion of the relationship between capital and income
theoretical analysis of capital
theoretical analysis of income
treatment of interest as a price of impatience and opportunity
influenced intertemporal choice theory
modern capital theory
modern interest theory
welfare economics
influencedBy marginal utility theory
neoclassical economics
isPartOf Irving Fisher’s contributions to neoclassical economics
language English
libraryOfCongressClassification HB501 (approximate)
mainSubject capital
income
interest
value theory
notableFor formalization of capital as a stock and income as a flow
foundation for Fisher’s later work on interest
integration of capital and income concepts into value theory
rigorous distinction between capital and income
publicationYear 1906
publisher Macmillan Publishers
surface form: Macmillan
timePeriod early 20th century

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Irving Fisher notableWork The Nature of Capital and Income