Swiss Economicblogs.org
From The Economist’s economics brief on Say’s Law: Supply gives people the ability to buy the economy’s output. But what ensures their willingness to do so? According to the logic of Say and his allies, people would not bother to produce anything unless they intended to do something with the proceeds. … Even if people chose to save not consume the proceeds, Say was sure this saving would translate faithfully into investment in new capital … But what if the sought-after thing was [money] …...
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