In the paper we review the concept of national income and the economic theory of national income accounting. There are two building blocks - the ideas of Fisher, Lindahl, Hicks about income as an expenditure level that can be continued into the future, and the concept of income as a welfare...

In the paper we review the concept of national income and the economic theory of national income accounting. There are two building blocks - the ideas of Fisher, Lindahl, Hicks about income as an expenditure level that can be continued into the future, and the concept of income as a welfare...

Gross domestic product (GDP) is the most widely used indicator from the system of national accounts. Although often interpreted as an indicator for (economic) well-being, it first and foremost monitors economic activity, and falls short of reflecting broader measures which try to capture...

In this chapter, we review the concept of national income and the economic theory of national income accounting. There are two building blocks – the ideas of Fisher, Lindahl, Hicks about income as an expenditure level that can be continued into the future, and the concept of income as a...