Abstract
Milton Friedman’s permanent income hypothesis was controversial from the onset. It was not that the theory was an unreasonable or empirically untestable one; rather, it was the offshoot of a strand of research that Simon Kuznets and Friedman had pursued in the mid-1940s.
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© 2011 Colin Read
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Read, C. (2011). The Theory. In: The Life Cyclists. Great Minds in Finance. Palgrave Macmillan, London. https://doi.org/10.1057/9780230349445_20
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DOI: https://doi.org/10.1057/9780230349445_20
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-32429-3
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