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What is the exact nature of the consumption function? Can this term be defined so that it will be consistent with empirical evidence and a valid instrument in the hands of future economic researchers and policy makers? In this volume a distinguished American economist presents... Read Full Overview

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... Read Full Overview

A Theory of the Consumption Function is a seminal work of economic theory by Nobel laureate Milton Friedman. In this book, Friedman presents his theory of how individuals and households make decisions about consumption, and how these decisions affect the overall economy. Friedman... Read Full Overview

What is the exact nature of the consumption function? Can this term be defined so that it will be consistent with empirical evidence and a valid instrument in the hands of future economic researchers and policy makers? In this volume a distinguished American economist presents... Read Full Overview