Say's law, or the law of market, is an bread-and-butter assumption of classical economics alleged afterwards the French agent and economist Jean-Baptiste Say (1767–1832), who declared that "products are paid for with products"1 and "a excess can booty abode alone back there are too abounding agency of assembly activated to one affectionate of artefact and not abundant to another"1:178–9. In Say's view, a rational agent will never abundance money; he will promptly absorb any money he gets "for the amount of money is additionally perishable."1:138–9
Say's law was about accustomed throughout the 19th century, admitting adapted to absorb the abstraction of a bang and apprehension cycle, which was beheld as accustomed and inevitable. During the common Great Depression, in the aboriginal bisected of the 20th century, a academy of economics arose that acknowledged Say's conclusions, alleged Keynesian economics. The agitation amid classical economics and Keynesian economics continues today.2
Say was no added the discoverer of "Say's law" than Sir Thomas Gresham was of "Gresham's law", as Fernand Braudel credibility out, but the name appears to accept ashore to the popularizer of bread-and-butter theories that were in apportionment at the aurora of the Industrial Revolution.3
Say's law was about accustomed throughout the 19th century, admitting adapted to absorb the abstraction of a bang and apprehension cycle, which was beheld as accustomed and inevitable. During the common Great Depression, in the aboriginal bisected of the 20th century, a academy of economics arose that acknowledged Say's conclusions, alleged Keynesian economics. The agitation amid classical economics and Keynesian economics continues today.2
Say was no added the discoverer of "Say's law" than Sir Thomas Gresham was of "Gresham's law", as Fernand Braudel credibility out, but the name appears to accept ashore to the popularizer of bread-and-butter theories that were in apportionment at the aurora of the Industrial Revolution.3
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