Kige Ramsey’s Great Value Theory

Economist John Maynard Keynes’ General Theory of Employment, Interest and Money conjectured that the average propensity to consume would fall as income rises.  Thus, people with higher incomes would not spend at the same rate as their income rises, which results in a greater rate of savings for the wealthy.  Kige Ramsey’s Great Value Theory disputes this notion.  Ramsey believes that you should always consume Wal-Mart’s Great Value products to increase your rate of savings even at a lower level of income, which provides a higher rate of savings for a lower paid individual.  His lecture discusses this in greater depth.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: