The Proof of the Original Say's Law
6 Pages Posted: 21 Dec 2013
Date Written: December 19, 2013
Abstract
This paper shows that Jean-Baptiste Say has conveyed two understandings of Say’s law, a wrong one and a correct one. The wrong one is the generally understood one, but also widely misunderstood. The correct one does not require barter trade, does not give up money, does not have equilibrium or unemployment. The original Say’s law is actually the original Walras’ law.
Keywords: Microeconomics, Say’s Law, Walras’ Law
JEL Classification: D21, D51
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Monetary Economics Without Santa Clause - Part One: The Neoclassical Model
-
The Proof of the Original Walras' Law
By Hak Choi