| 释义 |
Say's law Econ.|seɪz lɔː|
[f. the name of Jean Baptiste Say (see below).]
The theory propounded by the French economist Jean Baptiste Say (1767–1832) that supply creates its own demand.
[1817D. Ricardo Princ. Polit. Econ. xix. 401 Is the following quite consistent with M. Say's principle?] 1934Encycl. Social Sciences XII. 351/1 At any given time in one market area there could be only a single price relationship of each good to any other good there offered in exchange, so long as competition held sway. This tendency involved the fixation not only of an identity of offering price among different sellers of the given good to the same (prospective) buyer but also of an identity of the offering price to different (prospective) buyers of the given good from the same seller. This is the substance of what has been denominated Say's law. 1936J. M. Keynes Gen. Theory Employment iii. 26 Say's law, that the aggregate demand price of output as a whole is equal to its aggregate supply price for all volumes of output. 1969Daily Tel. 21 Apr. 14/2 If Say's Law had been true there could have been no unemployment. 1972T. Sowell Say's Law i. 3 The idea that supply creates its own demand—Say's Law—appears on the surface to be one of the simplest propositions in economics. |