Jean-Baptiste Say: A Proto-Austrian Warning against Lord Keynes-Reference-Cited by-同舟云学术

Jean-Baptiste Say: A Proto-Austrian Warning against Lord Keynes

Published:2022-06-01 Issue:1 Volume:28 Page:105-115
ISSN:2153-1552
Container-title:Journal des Économistes et des Études Humaines
language:en
Short-container-title:

Author:

Evans Anthony J.¹,Wenzel Nikolai G.²

Affiliation:

1. ESCP London , London , England

2. Fayetteville State University , Fayetteville , USA

Abstract

Abstract Jean-Baptiste Say is largely forgotten in modern economics; if he is remembered and studied, it is for Say’s Law, which was misinterpreted by John Maynard Keynes, and ended up providing the basis for the General Theory. In this chapter, we review Say’s Law and a more correct interpretation. We then use this to highlight the contributions of Say to modern macroeconomics, the microfoundations of macroeconomics, and entrepreneurship theory. Say was an influential French thinker – modern classical liberalism owes much to him, and would be enriched by a rediscovery of his writings.

Publisher

Walter de Gruyter GmbH

Subject

General Economics, Econometrics and Finance,General Social Sciences

Link

https://www.degruyter.com/document/doi/10.1515/jeeh-2022-0021/pdf

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4. Hazlitt, H. 1959. The Failure of the ‘New Economics’: An Analysis of Keynesian Fallacies.

5. Horwitz, S. 2003. “Say’s Law of Markets: An Austrian Appreciation.” In Two Hundred Years of Say’s Law: Essays on Economic Theory’s Most Controversial Principles, edited by Kates. Cheltenham, UK: Edward Elgar.