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Apr 26, 2024 · Say's Law of Markets was developed by the French classical economist and journalist, Jean-Baptiste Say. Say was influential because his theories addressed how a society creates...
Feb 25, 2024 · His law of markets is a classical economic theory that states that production is the source of demand. According to Say's law, the ability to demand something is...
In classical economics, Say's law, or the law of markets, is the claim that the production of a product creates demand for another product by providing something of value which can be exchanged for that other product. So, production is the source of demand.
Apr 5, 2024 · Subjects Of Study: political economy. supply and demand. J.-B. Say (born January 5, 1767, Lyon, France—died November 15, 1832, Paris) was a French economist, best known for his law of markets, which postulates that supply creates its own demand.
Jean-Baptiste Say ( French: [ʒɑ̃batist sɛ]; 5 January 1767 – 15 November 1832) was a liberal French economist and businessman who argued in favor of competition, free trade and lifting restraints on business. He is best known for Say's law —also known as the law of markets—which he popularized.
Jean Baptiste Say, a classical French economist, studied the nature of markets in his 1803 book “Treatise on Political Economy” and put forth the view that supply creates its own demand and that economic agents must first engage in production before they can demand goods and services in the market. Summary.
Jean-Baptiste Say. 1767-1832. F rench economist J. B. Say is most commonly identified with Say’s Law, which states that supply creates its own demand. Over the years Say’s Law has been embroiled in two kinds of controversy—the first over its authorship, the second over what it means and, given each meaning, whether it is true.
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