"The standard stream corresponding to Income No. 3 is constant in real terms... We ask... how much he would be receiving if he were getting a standard stream of the same present value as his actual expected receipts. This amount is his income."
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Economists from EnglandUniversity of Oxford facultyUniversity of Oxford alumniNobel laureates in EconomicsNobel laureates from England
Original Language: English
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p. 184 as cited in: Asheim, Geir B. "Economic analysis of sustainability." Justifying, Characterizing and Indicating Sustainability (2007): 1-15.
https://en.wikiquote.org/wiki/John_Hicks
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John Hicks
Sir John Richard Hicks (8 April 1904 ā 20 May 1989) was a British economist, and economy professor at the and later the University of Oxford, who in 1972 received the Nobel Memorial Prize in Economic Sciences (jointly with Kenneth Arrow) for his pioneering contributions to general equilibrium theory and welfare theory.
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