New stage of the consumer demand development

The article presents a review of earlier known and the latest studies of the Western and Russian economists on the issue of consumer demand in the form of the review. It is shown that the modern theory of consumer demand is characterized as the fourth stage of its development. It is associated with the activization of many non-price factors of demand and more complex models of the person than in the neoclassical theory. Nobel laureates in economics were generally the initiators of the new stage development. The analytical review of the literature on the theory of demand is submitted.