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BEYOND SAY’S LAW: THE SIGNIFICANCE OF J.-B. SAY’S MONETARY VIEWS
Journal of the History of Economic Thought ( IF 0.583 ) Pub Date : 2018-04-30 , DOI: 10.1017/s1053837217000098
Alain Béraud , Guy Numa

Jean-Baptiste Say’s notion ofdébouchéshas not been correctly understood, due to the lack of proper context within the framework of his broader political economy. We revisit Say’s writings on this topic, retrace the concept’s evolution, and lay out a framework that better illustrates the essence of Say’s thinking. We argue that Say’s theories on money and economic crises are much richer and more sophisticated than the traditional interpretation of Say’s Law would suggest. Say himself acknowledged that his monetary theory contradicted his initial articulations of the law, a point often missed by contemporary observers. This essay paints a more complete picture of Say’s work, showing how monetary changes could, under his framework, affect real variables. In so doing, it cuts against the many simplistic interpretations that pervade the existing literature on the subject.

中文翻译:

超越萨伊定律:J.-B. 的意义 萨伊的货币观点

让-巴蒂斯特·萨伊的概念德布歇由于在他更广泛的政治经济学框架内缺乏适当的背景,因此没有被正确理解。我们重新审视萨伊关于这个主题的著作,追溯这个概念的演变,并提出一个更好地说明萨伊思想本质的框架。我们认为萨伊关于货币和经济危机的理论比萨伊定律的传统解释所暗示的要丰富和复杂得多。萨伊本人承认,他的货币理论与他最初对法律的表述相矛盾,这一点经常被当代观察家忽略。这篇文章更全面地描绘了萨伊的工作,展示了在他的框架下,货币变化如何影响实际变量。这样一来,它就打破了现有关于该主题的文献中的许多简单化解释.
更新日期:2018-04-30
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