¹ This Journal, XXV, no. 2, May, 1959, 214-20.

² Although the imputation of a rent on government-owned buildings is mentioned by Professor Buckley as one of the changes in the new National Accounts series, he fails to connect this with the problem of measuring the income generated by government-owned productive assets.

³ See the report prepared by a group of experts on national income appointed by the Secretary General of the United Nations: System of National Accounts and Supporting Tables (New York, 1953), 32.Google Scholar Some authorities have argued that all interest should be viewed as a transfer payment whether paid by government or business. See, e.g., Ohlsson, Ingvai, On National Accounting (Stockholm, 1953), 162.Google Scholar In this view, interest payments are simply a redistribution of income and should not be regarded as a remuneration for factor services. The application of this line of reasoning would alter the present definition of profits in the business sector but would have no effect on the level of national income.