EconomicsThe Little Book of Big Ideas: Economics contains the profiles and theories of 50 of the world's most eminent economists. From mercantilists through Keynesians to modern economic thought, this book gets behind 50 of the greatest minds and 10 core theories. Covering Hume, Smith and Marx, succinct biographies provide an insight into economists' personalities and reveal the outstanding contribution that each has made to this pervasive discipline. Essential concepts and themes have been expertly selected and complex issues are explained in their social, political and cultural context. |
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Page 52
Mathew Forstater. OCOO 0000 1800 Say's Law of Markets Say's Law , often crudely stated as ' Supply Creates Its Own Demand ' , is one of the most important and controversial ideas in economics . Originating in the Classical period , Say's ...
Mathew Forstater. OCOO 0000 1800 Say's Law of Markets Say's Law , often crudely stated as ' Supply Creates Its Own Demand ' , is one of the most important and controversial ideas in economics . Originating in the Classical period , Say's ...
Page 53
... Say's Law is the interest rate mechanism , which tends to equate aggregate savings and aggregate investment at the full employment level of output . In the Classical theory , there is no loanable funds market in the same sense , with a ...
... Say's Law is the interest rate mechanism , which tends to equate aggregate savings and aggregate investment at the full employment level of output . In the Classical theory , there is no loanable funds market in the same sense , with a ...
Page 55
... Say's Law ( ' supply creates its own demand ' ) does not hold and a vision of the economic system where the money supply is determined by market forces , in particular the demand for credit- money , rather than directly controlled by ...
... Say's Law ( ' supply creates its own demand ' ) does not hold and a vision of the economic system where the money supply is determined by market forces , in particular the demand for credit- money , rather than directly controlled by ...
Contents
Introduction by Professor James Rollo | 6 |
Ibn Khaldun 12 Thomas Mun | 14 |
John Locke 16 ECONOMICS AND | 20 |
Copyright | |
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