Keynesian Consumption Function The Keynesian consumption function, as elaborates by the post Keynesian economists likes James Tobin, Arthur Smithies is called the absolute theory of consumption. Consumption spending is the positive function of the absolute level of income that is, higher the level of current income, …
Even before the publication of Johan Maynard Keynes book, some economists were of the view that income and consumption were functionally related. However, it was Keynes who first stressed the importance of the positive functional relationship between aggregate income and aggregate consumption. The consumption function c …
Psychology is the study of mind. It leads with the psychological process of human like thinking, learning and remembering. Modern psychologists also studies motivation, emotion and feelings of a person. Sociology and social psychology are inter-related in using such terms. Sociology studies the socialization of man …
The basic elements of community are discussed as under Locality Locality means a community occupies a territorial area permanent or changing. The people are having belonging to their locality and develop “we” feeling with each other. Sentiments The community sentiment is the social coherence, which the …
What is Sociology The start of has been taken by the Greeks while they consider man as a social animals. Plato discussed sociology in his book “Republic” and Aristotle discussed sociology in his book “Ethics and Politics”. Among others like Francis Bacon, Hobbes, Ibn-e-Khaldun also contributed …
The historical development of social psychology can be kept in the following three categories. Initial stage Social psychology was mainly developed by sociologists, psychologists and cultural anthropologists. Period of Emergence as an Independent Field As a rough first guess the years between 1908 and 1924 seem …
Aristotle is the disciple of Plato and the tutor of Alexander the Great. Aristotle is well known scientist and philosopher. When Alexander became the king of Macedonia, Aristotle established his own school lyceum in Athens. Aristotle View of Education Points of Aristotle view of education are …
