INCOME
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic.
All goods acquired through market activities constitute income. It is irrelevant for the income in general how the commodities, constituting it, are related to each other: they can be complements, substitutes, or any mix of them. Under the determination of income, the goods are with secondary significance as they exercise the subservient function merely to express the structure of income. According to it, the commodities get their specific character on the market by the allocation of income to them in the income effect.
Historical Backdrop
• SISMONDE DE SISMONDI Political Economy and the Philosophy of Government: income.
• CORRADO GINI Variability and Mutability: income inequality.
• IRVING FISHER The Rate of Interest: time-preferences of income.
• JOHN MAYNARD KEYNES The General Theory of Employment, Interest, and Money: current and expected income; distribution of income.
• SIMON KUZNETS Income and Wealth of the U.S.: income distribution.
• PIERO SRAFFA Production of Commodities by Means of Commodities: income in a self-replacing system.
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