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Published by the Foundation for Economic
Education, January 1, 1997.
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Reviewer Comment:
J. B. Say was a French economists contemporary with Adam Smith and David
Ricardo. He developed and advanced the 'classical school' of economists with
his work on business cycles. He opposed Malthus. He wrote many ideas about
economics and markets but his most well known theory was expressed with the
phrase that supply will always find demand. There could be no general national
excess of supply of goods because people's demand was infinite. This was
opposed and then ignored by Lord Keynes and his Keynesian economics followers.
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Dr. Horwitz notes the common
misunderstanding of later (recent also) commentators about what the earlier
authors actually meant. This, he writes, is what happened when Keynes and
others claimed to disagree with and then ignore J. B. Say's collection of
writings that together have been combined as 'Say's Law of Markets."
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