Categories: Economics, Economic theory, Microeconomics, Macroeconomics, Consumption Expenditure function, Utility Indifference curves, Permanent Income, Current Income, Political Economy, Economic crisis.
After a lot of stop and go that have made me clear the intellectual and economic misery of the academic and professional editorial world, I could successfully publish the book in Economics entitled “The Consumption Expenditure Function”. This book intends to continue the biggest economic theory creators’ thinkings and clarify some important missing concepts in this basic part of economic theory.
Consumption Expenditure Function has always been the lost link between Micro and Macroeconomics, a function whose nebulous and undefined existence has allowed each school of thought to propose a different relationship between Public Deficits and the crowding-out effect over the private companies from the private capital markets. If Keynes wrote that the Consumption Expenditure Function has an objective and a subjective side but could not go any further due to missing mathematical knowledge; and Milton Friedman wrote five definitions for the household’s permanent income in his try to follow with Keynes work without being able to, this book, after a thorough revision of all consumption expenditure standing theories and a clarification of what permanent income is, re-define the concept of utility indifference curves and creates, for the first time in history, a full theoretic and mathematical formulation of a “Consumption Expenditure Function”
From now on, Government’s economic policy models will be able to analyse the effects over aggregate consumption of the different proposed measures to fight an economic crisis like the one we are suffering now. Till now, these effects were estimated solely using proxies got out of past consumption expenditure behaviour, showing big errors due to changes that constantly alter our economic systems.
This book will therefore help to understand and to drive out this crisis for governments will begin to measure the more or less big influence that public deficits may have on private consumption expenditure behaviour and, as a consequence, on company’s selling and on Treasury’s tax inflows.
The process for publishing it has been hard but instructive. Since now I offer myself to revise, edit and publish any book on Economics of any Phd that wants to bring something new to this, so important, but so mistreated, science.
Those who love Economics can buy this book, both in English and in Spanish, from almost every important book store in the world. Hereby I offer them a pair of links to AMAZON:
There they may see the book’s introduction in the nice visual way Amazon offers it to potential buyers.