Concept
Say's law
Overview
concept in market economics
Overview adapted from Wikipedia (CC BY-SA 4.0; see the article history for authors).
Possible passages
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The principle, that value is proportional to cost of production, being consequently inapplicable, we must revert to a principle anterior to that of cost of production, and from which this last flows as a consequence,--namely, the principle of demand and supply. In order to apply this principle, with any advantage, to the solution of the question which now occupies us, the principle itself, and the idea attached to…
John Stuart Mill, Essays on some unsettled Questions of Political Economy
The author is tied to Say's law in the knowledge graph.
Under the influence of this desire, it shows mankind accumulating wealth, and employing that wealth in the production of other wealth; sanctioning by mutual agreement the institution of property; establishing laws to prevent individuals from encroaching upon the property of others by force or fraud; adopting various contrivances for increasing the productiveness of their labor; settling the division of the produce…
John Stuart Mill, A System of Logic, Ratiocinative and Inductive
The author is tied to Say's law in the knowledge graph.
Such laws also control the vicissitudes of the production and exchange of commodities. For the individual producer and exchanger, these laws are strange, and often unknown, forces, the nature of which must be laboriously investigated and ascertained. These economic laws of production are modified by the different stages of this form of production. But generally speaking, the entire period of civilization is…
Friedrich Engels, The origin of the family, private property, and the state
States what Say's law is.
Philosophers who discussed Say's law
Related ideas
- Free market
- John Stuart Mill
- Laissez-faire
- Karl Marx
- James Mill
- Marxism
- Great Depression
- The New School
- Classical economics
- Thomas Robert Malthus
- The General Theory of Employment, Interest and Money
- Aggregate demand
- John Maynard Keynes
- Surplus value
- Jean-Baptiste Say
- Full employment
- David Ricardo
- Division of labour
Opposing perspectives
Place in the tradition
Part of Liberalism.