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Say what?

  • Oct 21, 2013 · 7:30 PM
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Say's Law is named for Jean Baptiste Say, the 18-19th-century French economist.  It can be stated simply ("supply constitutes its own demand" or "goods pay for other goods") but actually is pretty subtle and requires careful thinking to understand (IMHO).  It has important implications, too: Keynes wrote "General Theory" as a rebuttal to it.  Let's explore this "simple" law through the following readings:

http://en.wikipedia.org/wiki/Say's_law

http://mises.org/daily/5985/

http://mises.org/daily/1803

http://krugman.blogs.nytimes.com/2013/02/10/still-says-law-after-all-these-years/?_r=0

http://mises.org/daily/918

See you on the 21st.

Voluntarily,

-Joel

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