...investment. Instinctively interest is a first deduction — partly because it has a definite basis that can be figured, and partly because it is the one thing...a sense that happens to be, for his own practical purposes, most convenient for him. Professor FW Taussig, in his Principles of Economics, a recently...

...think of terminology; one thinks only of the facts. Virtually everyone admits that in partnerships or other settlements the most satisfactory agreement...interest charge. This is mere practical convenience. Although the accountant is not much concerned with theoretical economic distinctions, he is at least...