M:M. RUTGERS THE STATE UNIVERSITY of NEW JERSEY SOUTH JERSEY LIBRARY COLLEGE OF SOUTH JERSEY CAMDEN 2, N. I THE INCOME OF NATIONS Theory, Measurement, and Analysis: Past and Present THE INCOME OF NATIONS THEORY, MEASUREMENT, AND ANALYSIS: PAST AND PRESENT A Study in Applied Economics and Statistics PAUL STUDENSKI Professor Emeritus of Economics, New York University Washington Square • NEW YORK UNIVERSITY PRESS 1958 © 1958 BY NEW YORK UNIVERSITY PRESS LIBRARY OF CONGRESS CATALOGUE CARD NUMBER: 57-6376 MANUFACTURED IN THE UNITED STATES OF AMERICA 30498 To Nastinka, my wife, whose spark and wisdom have guided me through life