Jean-Baptiste Say

Although Jean-Baptiste Say (1767-1832) is remembered primarily for Say's Law, one of the cornerstones of classical economics, he was also an early proponent of the utility theory of value. He was therefore very much at odds with his classical contemporaries, to whom labour was the source of value. Say's best-known work, his Traite d'economie politique was intended as a shorter and more systematic presentation of economics than Adam Smith's Wealth of Nations . The success of this book (printed in 5 editions) made Say the best-known expositor of Smith in Europe and America, and he became France's first professor of political economy. Much controversy has surrounded the question of Say's originality in developing the principle (that supply creates its own demand - the doctrine ultimately named Say's Law). Claims have been made for James Mill as the real author of Say's Law, but Mill was only the first of many to reformulate and elaborate what Say had done. Say never resolved his differences with Ricardo as to whether value was based on labour or utility, but in correspondence with Sismondi and Malthus he came ultimately to reconcile Say's Law with their theories of aggregate disequilibrium. The set covers the following themes: * Say in the history of economics * Classical statements on Say's Law - general gluts, demand failure and the business cycle * Later statements on Say's Law - the prelude to the General Theory * The Keynesian Revolution and the attack on Say's Law * Lange, Say's Law and the demand for money * Modern reconstructions of Say's Law * Commentaries on classical views relating to Say's Law * Retrieving the classical understanding of Say's Law.