¿Fue exitosa la crítica efectuada por Lord John Maynard Keynes a la Ley de Say?

Jose Luis Mojica Agudelo ()
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Jose Luis Mojica Agudelo: Universidad Nacional de Colombia - Sede Bogota

No 2, Revista Intercambio from Universidad Nacional de Colombia Sede Medellín

Abstract: In Chapter II of the Keynes’ General Theory, the so-called Say’s Law is refuted, where the essential premise is that production is the one that really gives goods an exit because the purchase of them is done through other values and products. While this logic is true for a system of real exchange in which money is merely a medium of exchange, the capitalist system is a victim of imbalances between supply and aggregate demand due to the mo-netary nature of its relations. The present essay seeks to revalidate Say’s argument, which fundamentally finds its logic in the long term, under the Austrian school of thought.

Keywords: teoría general; economía normativa; pensamiento económico; escuela austriaca; modelo agregativo; eco-nomía neoclásica (search for similar items in EconPapers)
Pages: 11 pages
Date: 2020
Note: Jose Luis Mojica es un estudiante de Economía, Universidad Nacional de Colombia Sede Bogotá. Profesional Económico de Camacol Presidencia.
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Persistent link: https://EconPapers.repec.org/RePEc:col:000538:000002

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