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A Critique of the Neo-Fisherian Consumption Function

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  • Francis Green

    (School of Economics and Politics, Kingston Polytechnic, Penryhn Road, Kingston upon Thames, Surrey, England.)

Abstract

This paper asserts the importance for radicals of stripping neoclassical economics of its apparent empiricist bases. It exemplifies this by presenting the results of a comprehensive review of the literature of the Permanent Income and Life Cycle Hypotheses. It concludes that tests fail to show their empirical superiority over alternative theories. The reason for their popularity is their implicit ideological function as part of the support for the neoclassical paradigm.

Suggested Citation

  • Francis Green, 1984. "A Critique of the Neo-Fisherian Consumption Function," Review of Radical Political Economics, Union for Radical Political Economics, vol. 16(2-3), pages 95-114, June.
    • Handle: RePEc:sae:reorpe:v:16:y:1984:i:2-3:p:95-114
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    Cited by:

    1. Beverly, Sondra G. & Sherraden, Michael, 1999. "Institutional determinants of saving: implications for low-income households and public policy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(4), pages 457-473.

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