A Theory of the Consumption Function. A Study by the National Bureau of Economic Research, New York.

FRIEDMAN, Milton.

Published by Princeton: Princeton University Press, 1957

About this Item

First edition of a foundational work in economics, "what most academic economists would regard as Friedman's greatest work" (New Palgrave), in which he rejects Keynesian interventionism and resolves several paradoxes regarding the relationship between the wealth and the spending habits of consumers. "Friedman's study of consumption, while it had many critics, made a deep impression on the economics profession and continued to be a staple of policy discussions in the decades that followed" (ANB). Though unmarked as such, the book comes from the library of Friedman's colleague, the economist Roman L. Weil (1940-2023). Weil was professor of accounting at the University of Chicago Booth School of Business from 1965 until 2008, working alongside Friedman, who dominated the Chicago economics department in his tenure as professor from 1946 to 1977. Weil coauthored several textbooks, including the highly regarded Accounting: The Language of Business (1974), as well as over 100 journal articles and notes. He developed the widely used Fisher-Weil measure of bond duration. Octavo. Original blue cloth, spine lettered and decorated in gilt. With dust jacket. Ownership stamp to top edge, and signature dated 23 June 1962 to front free endpaper, of John Clair Thompson (1933-2016, Management Professor at the University of Connecticut 1967-96). Aside from these ownership marks, a fine copy in fine jacket.

Seller Inventory # 178421

Bibliographic Details

• Title: A Theory of the Consumption Function. A Study by the National Bureau of Economic Research, New York.
• Publisher: Princeton: Princeton University Press, 1957
• Edition: 1st Edition