Say, Jean Baptiste

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Say, Jean Baptiste

(1767–1832) a French economist who developed Adam SMITH's theory of the market in his Traité d’économic politique (1803). Say argued that since every product exchanges for another product, then every product put on the market creates its own demand and every demand exerted in the market creates its own supply This statement about interdependence in an exchange economy is often described as SAY's LAW. The principle has been used to deny the possibility of economic crisis associated with general overproduction of goods and services and to suggest that national economies would automatically function close to full employment.
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Contractor address : Espace Concorde Parc d~activite de l~aeroport, 120 Impasse Jean Baptiste Say
He describes his methodology, then offers a chronologically arranged retrospective survey beginning with Aristotle and ending with Jean Baptiste Say (1767-1832), Knut Wicksell, and metallism and chartalism.
Entin's course reviews the intellectual roots of Supply-side Economics, dating to 18th century political economists Adam Smith and Jean Baptiste Say, and shows how this approach to economics derives from the basic workings of the economy, beginning with the fundamental observation that income is the reward for the production of goods and services by people who supply labor and capital services.