...fundamental determinant of saving behavior is the consumer's income. Keynes (1936, p. 96) advanced, as a "psychological law, upon which we are entitled to depend with great confidence," the proposition that the proportion of income that a person saves will be constant regardless of how...

...the same page, after an intervening paragraph, is this sentence: "The fundamental psychological laws, upon which we are entitled to depend with great confidence...nature and from the detailed facts of experience, is that men are disposed, as a rule and on the average, to increase their consumption as their income...

...the normal shape of the consumption function, Keynes (1936, pp. 97—99) argued as follows. “The fundamental psychological law, upon which we are entitled to depend with great confidence . . . from our knowledge of human nature and from the detailed facts of experience, is that men are...

...function in The general theory. He even uses the elements of his previous discussion of induction. "The fundamental psychological law, upon which we are entitled...nature and from the detailed facts of experience, is that men are disposed, as a rule and on the average, to increase their consumption as their income...

...about it of a substantive nature; Keynes describes the propensity to consume as a behavioral pattern "upon which we are entitled to depend with great confidence...nature and from the detailed facts of experience," but provides no further support for this assertion.9 In fact, however, the conceptual shift entails...

...his train. At a crucial point in The General Theory of Employment, Interest and Money, he wrote, "The fundamental psychological law, upon which we are entitled...knowledge of human nature and from the detailed facts of expe1 . Adam Smith, The Theory of Moral Sentiments (Oxford: Oxford University Press, 1976), p. 9. rience,...

...propensity itself being treated as a secondary influence, what is the normal shape of this function? The fundamental psychological law, upon which we are entitled...nature and from the detailed facts of experience, is that men are disposed, as a rule and on average, to increase their consumption as their income increases,...

...consume," including consumers' income expectations, but he nevertheless ended up asserting that the fundamental psychological law, upon which we are entitled...nature and from the detailed facts of experience, is that men are disposed, as a rule and on the average, to increase their consumption as their income...

...mvesnnem. The General Theory of Emplogmem. lmerest and Money t1936i 197363. 176 KIERKEGAARD, SÓREN 19 The fundamental psychological law, upon which we are entitled...nature and from the detailed facts of experience, is that men are disposed, as a rule and on the average, to increase their consumption as their income...

...crucial point in The General Theory of Employment, Interest am) Money, John Maynard Keynes wrote, "The fundamental psychological law, upon which we are entitled...nature and from the detailed facts of experience, is that men are disposed, as a rule and on the average, to increase their consumption as their income...