![A group of private school students exit their school.](https://www.brookings.edu/wp-content/uploads/2024/06/shutterstock_1195676068-1.jpg?quality=75&w=500)
![A group of private school students exit their school.](https://www.brookings.edu/wp-content/uploads/2024/06/shutterstock_1195676068-1.jpg?quality=75&w=500)
Research
BPEA | 1976 No. 11976, No. 1
THIS ARTICLE is the second of two complementary papers by the authors
concerning inflation accounting and nonfinancial corporate profits. The
companion piece, which appeared in BPEA, 3:1975, discussed definitions
of real corporate profits and suggested as a meaningful and attractive
candidate the accrual of purchasing power by equity holders. A second
definition, based on the concept of maintaining capital intact, was presented
as an alternative.