Introduction and summary
Price changes, depreciation, and business profits : effects and magnitudes
Business practice in adjusting depreciation for price changes
Allowances of replacement-cost depreciation for tax purposes : equity and economic effects
Proposed methods for tax revision of depreciation
The price-index problem
Illustration of the effect of price changes on depreciation and profits
Appendix A. Estimating replacement-cost depreciation
Appendix B. The effect of continuous price changes on net worth
Appendix C. The effect of replacement-cost depreciation on aggregate depreciation over a business cycle.