How is real capital measured by government statistical agencies? How
could this measure be improved to correspond more closely to an
economist's ideal measure of capital in economic analysis and
prediction? It is possible to construct a single, reliable time series
for all capital goods, regardless of differences in vintage,
technological complexity, and rates of depreciation? These questions
represent the common themes of this collection of papers, originally
presented at a 1976 meeting of the Conference on Income and Wealth.