The Proof of the Original Say's Law

6 Pages Posted: 21 Dec 2013

See all articles by Hak Choi

Hak Choi

Chienkuo Technology University - Department of International Business; Chung-Hua Institution for Economic Research

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

Choi, Hak, The Proof of the Original Say's Law (December 19, 2013). Available at SSRN: https://ssrn.com/abstract=2369851 or http://dx.doi.org/10.2139/ssrn.2369851

Hak Choi (Contact Author)

Chienkuo Technology University - Department of International Business ( email )

No.1, Chiehsou N. Road
Changhua City, 500
Taiwan
+886 91 901-4618 (Phone)

HOME PAGE: http://euntold.wordpress.com

Chung-Hua Institution for Economic Research ( email )

75, Changhsin St.
Taipei
Taiwan

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