I have a query for economic historians.  Please post any replies to  
my email address below. 
Approximately when did the concept of discounting future income  
streams to arrive at present value become a commonplace among  
economists?  I am particularly interested in identifying the time,  
within a decade, when lawyers might begin picking up the concept from  
economists.  The earliest pertinent reference I have found is in John  
R. Commons, The Legal Foundations of Capitalism (1924), but I suspect  
that the idea is older than that, and that a sophisticated lawyer  
like Louis D. Brandeis could have been thinking in those terms before  
World War I.  Any comments?  I thank youi in advance for your  
trouble. 
William M. Wiecek 
Syracuse University College of Law 
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(315) 443-4108 
FAX: (315) 443-5394