Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. ... In developed capitalist economies, private consumption spending accounts for half or more of GDP.
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Part 2, Chapter 9, Reproduction (for Economists), p. 114 (Case as per text.)Jim Stanford
The main key to the economics of the postwar world is a simple truism — that the rate of accumulation is equal to the rate of production less the rate of consumption. This is the "Bathtub Theorem." Production may be likened to the flow of water from the faucet, consumption to the flow down the drain. The difference between these two flows is the rate at which the water in the bathtub - the total stockpile of all goods - is accumulating.
War drains the economic bathtub in a great waste of consumption. The first problem of reconstruction is to rebuild the stockpile. It can be rebuilt only by widening the gap between production and consumption, or, in the case of a single country, by importing more than is exported. It is difficult for a ravaged country to increase either its production or its net imports. Unless it can obtain outside help, therefore, it must suffer a drastic restriction of consumption. Frequently the only way consumption can be restricted is by inflation. Here, therefore, is the key to the most fundamental problems of reconstruction.Kenneth Boulding
Consumption is also immediately production, just as in nature the consumption of the elements and chemical substances is the production of the plant.
Karl Marx
In the nuclear family the child is confronted by only two adults contrasted by sex. The tendency towards polarization is unavoidable. The duplication of effort in the nuclear family is directly connected to the family's role as the principal unit of consumption in consumer society. Each household is destined to acquire a complete set of all the consumer durables considered necessary for the good life and per caput consumption is therefore maintained at its highest level. In sex, as in consumption, the nuclear family emphasizes possession and exclusivity at the expense of the kinds of emotional relationships that work for co-operation and solidarity.
Germaine Greer
The essential measure of the success of the economy is not production and consumption at all, but the nature, extent, quality, and complexity of the total capital stock, including in this the state of the human bodies and minds included in the system. In the spaceman economy, what we are primarily concerned with is stock maintenance, and any technological change which results in the maintenance of a given total stock with a lessened throughput (that is, less production and consumption) is clearly a gain. This idea that both production and consumption are bad things rather than good things is very strange to economists, who have been obsessed with tile income-flow concepts to the exclusion, almost, of capital-stock concepts.
Kenneth Boulding
The government has, in all countries, a vast influence, in determining the character of the national consumption; not only because it absolutely directs the consumption of the state itself, but because a great proportion of the consumption of individuals is gained by its will and example.
Jean-Baptiste Say
Stanford, Jim
Stangl, Franz
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