A Theory of the Consumption Function.

FIRST EDITION OF MILTON FRIEDMAN’S MASTERPIECE: A THEORY OF THE CONSUMPTION FUNCTION

A Theory of the Consumption Function.

FRIEDMAN, Milton.

$3,000.00

Item Number: 100964

Princeton: Princeton University Press, 1957.

First edition of Friedman’s magnum opus. Octavo, original cloth. Fine in a near fine dust jacket with a touch of shelfwear. A superior example.

This economist's masterpiece of economic theory "reinterpreted that Keynesian concept of the consumption function by relating it to lifetime instead of current income. For its ingenious manipulation of data and its reconciliation of apparently conflicting evidence, this book must rank as one of the masterpiece of modern econometrics" (Blaug, 63). "Milton Friedman offered conservative answers to the great questions of economics, at the same time challenging economic thought since Keynes. In this book, Friedman disputes Keynes' idea that aggregate spending and income are directly linked (and therefore open to government influence). Rather, he writes, consumer spend independent of government policy, based on their expected long-term, or 'permanent' income. In all his writing, Friedman embraces a laissez-faire approach that celebrates individual freedom. He sees the ideal role for government as 'umpire', not 'parent' (NYPL Books of the Century 144).

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All of our items are guaranteed as described and are shipped on approval. We accept MasterCard, Visa, American Express, Discover, checks and wire transfer. For first-time buyers, we prefer a credit card and we will only ship to the billing address on the card. We do ask that if you are not satisfied with the item, you contact us by phone as quickly as possible and return the item within ten days.

We ship worldwide and all packages will be sent via UPS or Federal Express unless another carrier is requested. Next-day or second-day air service is available upon request. Shipping and insurance charges are additional.