  In the present work we propose a theory for obtaining successively better
approximations to the linear response functions of time-dependent density or
current-density functional theory. The new technique is based on the
variational approach to many-body perturbation theory (MBPT) as developed
during the sixties and later expanded by us in the mid nineties. Due to this
feature the resulting response functions obey a large number of conservation
laws such as particle and momentum conservation and sum rules. The quality of
the obtained results is governed by the physical processes built in through
MBPT but also by the choice of variational expressions. We here present several
conserving response functions of different sophistication to be used in the
calculation of the optical response of solids and nano-scale systems.
