Public Expenditure in the National Income

THE regular publication of a White Paper on National Income as well as the rich crop of publications on this subject in the United States have led to a general increase in interest among economists and administrators in questions relating to the methods of estimating and interpreting National Income figures. While definitions, procedures, etc., are still in a fluid and formative state, it is important to avoid any unnecessary ambiguities in the basic problems. It is, therefore, I hope justifiable to point out some misunderstandings and. ambiguities which have crept into an article by Ernest H. Stern, bearing the same title as this one

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