In contrast to Kuznets, Stone developed a double-entry accounting system, also in the 1930s and 1940s, partly driven by the British government’s war effort. His social accounting matrix implemented many cross-checks on the validity of components of national income and, in so doing, derived means of measuring them. He demonstrated, empirically as well as theoretically, that national income could be measured as either the market value of final product or the total of the gross factor incomes used in producing it. Stone’s structure became the foundation for the United Nations System of National Accounts (SNA), first published in 1953, providing a uniform basis for all countries to report national output. Virtually all nations now use his system of national accounts.
§ 16. It is plain then, that the will is nothing but one power or ability; and freedom another power or ability: so that to ask, whether the will has freedom, is to ask whether one power has another power, one ability another ability; a question at first sight too grossly absurd to make a dispute or need an answer. For who is it that sees not that powers belong only to agents, and are attributes only of substances, and not of powers themselves? So that this way of putting the question, viz. Whether the will be free? is in effect to ask, Whether the will be a substance, an agent? or at least to suppose it, since freedom can properly be attributed to nothing else. If freedom can with any propriety of speech be applied to power, or may be attributed to the power that is in a man to produce or forbear producing motion in parts of his body, by choice or preference; which is that which denominates him free, and is freedom itself. But if any one should ask whether freedom were free, he would be suspected not to understand well what he said; and he would be thought to deserve Midas’s ears, who, knowing that rich was a denomination for the possession of riches, should demand whether riches themselves were rich.
Gross National Product Essay - Anti Essays