A Discussion of Say's Law: The Outcome of the Symposium

Steven Kates
Additional contact information
Steven Kates: Australian Chamber of Commerce & Industry

Eastern Economic Journal, 1997, vol. 23, issue 2, 237-239

Abstract: This note summarizes the symposium, "Say's Law Revisited." The most remarkable achievement of the symposium has been the manner in which it has cleared away important parts of the mythology which has surrounded Say's Law since the publication of the "General Theory". It is clear that what is today referred to as Say's Law is different from the classical meaning associated with the law of markets. All of the participants agree that Keynes misstated the actual meaning which the law of markets held for classical economists. It is jointly agreed that whatever else the law of markets may have meant, it did not mean that recessions and involuntary unemployment are impossible, or as Keynes put it, that if Say's Law is true, there is "no obstacle to full employment".

JEL-codes: B12 B22 E24 E32 (search for similar items in EconPapers)
Date: 1997
References: Add references at CitEc
Citations:

Downloads: (external link)
http://web.holycross.edu/RePEc/eej/Archive/Volume23/V23N2P237_239.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:23:y:1997:i:2:p:237-239

Access Statistics for this article

Eastern Economic Journal is currently edited by Cynthia A. Bansak, St. Lawrence University and Allan A. Zebedee, Clarkson University

More articles in Eastern Economic Journal from Eastern Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Victor Matheson, College of the Holy Cross ().