Say's Law

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The doctrine that shortfalls in overall demand aren’t possible, because money has to be spent on something. Debunked strongly by Keynes, yet still strongly held by many Chicago School economists and others.

Links

HearSay Economics [More...]
"[...] the fallacy Keynes called Say’s Law was and is a powerful force in economic discourse, seriously hampering our ability to respond rationally to economic troubles."
Say What, Murray? [More...]
Murray Rothbard claims Say crushed opponents of Say's Law, but didn't mention that Say recanted later on.

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