`absolute-income-hypothesis` Related Article Results

Consumption is one of the most fundamental analytical variables in economics. Consumption, which is the ultimate purpose of economic activity, constitutes a large share of national income and plays a decisive role in maintaining economic stability. The first comprehensive approach to explain the relationship between income and consumption was formulated in John Maynard Keynes’s 1936 work The General Theory of Employment, Interest and Money. In this work, Keynes introduced the Absolute Income Hyp