Eugene Coyle wrote: > Jim, > Do you have a cite for the Friedman remark?
here 'tis: The [general] ignorance – or deliberate forgetting – of Duesenberry's research seems to result from ideological bias. Right from the start, Friedman justifies his alternative hyothesis in these terms: unlike that of Duesenberry, his model "follows directly from the currently accepted pure theory of consumer behavior" (which assumes individualism, given tastes, etc.) Milton Friedman. 1957 A Theory of the Consumption Function (National Bureau of Economic Research and Princeton U.P.), p. 6. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
