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an economic law stating that supply creates its own demand (named after eighteenth-century French economist Jean-Baptiste Say)

Highlighted phrases

say's law

The policy objective [...] "achievement competition" rather than "impediment competition," whereby the quality of products manufactured would create the demand for them, in a modern supply-side restatement of Say's law.

ordoliberal policy re: German firms

—p.137 The Intellectual History of a Dangerous Idea, 1942-2012 (132) by Mark Blyth
6 years, 4 months ago

if the labour market ever worked the way neoclassical theory imagines it--if wages were flexible, Say's Law held, and all willing workers found jobs in some orthodox "full employment" dream--then workers would have no fear of "the sack."

—p.106 Markets, Contracts, and Firms (77) by Geoff Mann
6 years, 9 months ago

the long-discredited Say’s Law that supply creates its own demand—that is, weak total demand is never a constraint on economic growth

—p.38 US Recovery? (29) by David M. Kotz
5 years, 4 months ago

Economists [...] point to 'Say's Law', [...] which is often summarized in the phrase 'supply creates its own demand'

—p.6 Introduction (1) by Ryan Avent
6 years, 4 months ago

Unfortunately, Yunus had embraced a long-disproven fallacy known as Say’s law — the idea that supply creates its own demand. As the late economist Alice Amsden explained, the core problem in developing countries is not the supply of basic items, but the sheer lack of local demand (or purchasing power) required to pay for them.

—p.11 The Power of a Dollar (9) by Milford Bateman
6 years, 7 months ago