Consumption

James Forder

Chapter Chapter 9 in Milton Friedman, 2019, pp 133-157 from Palgrave Macmillan

Abstract: Abstract Friedman’s A Theory of the Consumption Function (1957) and its intellectual context are considered. It is argued that it is a book of exceptional intellectual quality. It is further argued that its standing in the economics literature owes next to nothing either to original theoretical conception, or to any significance in undermining Keynesian economics. Friedman’s persuasive handing of data to establish theoretical points is its great strength. It is argued that even in Friedman’s view, there was nothing profoundly anti-Keynesian about it.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pal:gtechp:978-1-137-38784-4_9

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DOI: 10.1057/978-1-137-38784-4_9

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