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Jean-Baptiste Say: 2 ideas worth knowing

2 ideas from Jean-Baptiste Say, each explained in a minute and credited to the original work. Free on Savvy.

• Supply creates its own demand — a claim that's been fought over for 200 years

  Jean-Baptiste Say argued in 1803 that producing goods automatically generates the income needed to buy other goods, so economy-wide overproduction should be impossible. Keynes name…

  — Jean-Baptiste Say, A Treatise on Political Economy

• One economist argued it's basically impossible to produce too much of everything at once

  Jean-Baptiste Say argued in 1803 that producing goods necessarily generates income, and that income necessarily gets spent buying other goods, so economy-wide overproduction couldn…

  — Jean-Baptiste Say, Treatise on Political Economy

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