Why Say's Law Is Always True: Alasdair Macleod

nigelmarkdiasnigelmarkdias Posts: 1,323 Silver ✭✭✭✭
edited August 2016 in Community Cafe

ALASDAIR MACLEOD
Why
Say’s law is always true

One of my regular readers has raised the important subject of Say’s law, the denial of which both Keynesian and modern monetarists are emphatic.

They need this fundamental axiom to be untrue to justify state stimulation of aggregate demand. Either Say’s law is right and state intervention is economically disruptive, or if it’s wrong modern economists are right to ignore it and progress their science beyond it.


Jean Baptiste Say

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