A Theory of the Consumption Function
In this groundbreaking work, a Nobel Prize-winning economist addresses the consumption behavior of individuals and how it can be defined in a way that is supported by empirical evidence and useful for research and planning. Milton Friedman introduced a distinction between measured income, what an individual earns in a specific period, and permanent income, a view that takes into account a longer period in an active economic life. He was thus able to suggest that consumption tends to be, on average, the same fraction of permanent income regardless of the income's extent and that the magnitude of the fraction depends on many variables, includin…
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Produktdetails
- ISBN: 978-0-486-84843-3
- EAN: 9780486848433
- Produktnummer: 35108856
- Verlag: Dover Publications
- Sprache: Englisch
- Erscheinungsjahr: 2020
- Seitenangabe: 256 S.
- Plattform: EPUB
- Masse: 12'065 KB
Über den Autor
Milton Friedman
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