The National Recovery Administration: An Analysis and Appraisal

By Leverett S. Lyon; Paul T. Homan et al. | Go to book overview

CHAPTER XXXVIII
THE NRA AND PROPERTY INCOME

Before attempting to ascertain the effect of the NRA on property income, it may be well to consider for a moment the importance of this type of income as compared with income from labor.

A study of the distribution of the national income from current productive activities indicates that in the ten years preceding 1929 the share of property income averaged around 20 per cent of the total for property and labor combined.1 In 1932, a year in which conditions were similar to those obtaining when the NRA was launched, currently produced property income was less than 10 per cent of total produced income.2

____________________
1
Computed from data in America's' Capacity to Consume, by Maurice Leven , Harold G. Moulton and Clark Warburton. Property income includes net business savings from undistributed earnings. The mixed property and labor income of individual enterprises we have divided arbitrarily in accordance with the ratio of property to labor income for all other enterprises. Since the mixed income thus divided averaged about 20 per cent of the total produced income of the country, the absolute error involved in the use of this method cannot be very large. The basic data are fully described on p. 158 of the work cited.
2
Computed from data compiled by the U. S. Department of Commerce and published ( Jan. 14, 1935) in a release entitled The National Income, 1933. We have made the same split of mixed entrepreneurial income that is described in the preceding footnote. Total produced income was derived by subtracting net business losses (after dividends) from the total of income paid out. The share of property in the produced income was computed by subtracting net business losses (which are of course losses to property holders) from the total of property income paid out.

In 1932 the so-called "paid-out" property income was in large measure not true income at all, but rather the proceeds of asset liquidadation. It represented a consumption of capital, not current property earnings. The property income currently produced, plus the proceeds of asset liquidation, made up 20-25 per cent of all income paid out. (The

-860-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The National Recovery Administration: An Analysis and Appraisal
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 947

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.