Surrogate Demand: A Note on Demand Theory
SOME twenty years ago, I showed Abba Lerner a page of my writing that purported to be, I thought, a needed addition to demand theory. At that time, Lerner was teaching at Queens College (CUNY), my home base. He was less than enthusiastic about my contribution. Along with a legion of others, I was, and still am, awed by Lerner's analytical ability and broadbased knowledge. After all, I had assembled a Festschrift in Abba's honor and felt (as did, among others, Paul Samuelson) that Lerner should have gained a Nobel. My reluctance, therefore, to submit my idea for publication, when it had not had a positive impact on Lerner, is understandable. I shelved the page. Unfortunately, Lerner is no longer with us. However, that no-