Tag Archives: Say’s Law

Say's Law ("money is a hot potato").Lars P. Syll’s BlogMainstream economics — peddling fake knowledgeLars P. Syll | Professor, Malmo University

Say understood that supply and demand are reciprocal and mutually reinforcing. The New Arthurian EconomicsSay's Law and Say's Other LawThe Arthurian

I promised to discuss Nick Rowe's claim that one must start with Aggregate Demand and Supply (AS/AD) to explain macroeconomics. Nick's argument is that the AS/AD model is useful to analyze monetary economies, and he quite correctly points out that money must be part of the discussion from the start. In his words: And if you don't start with money, monetary exchange, and AD and AS, you are doing macro wrong. Because the only thing that makes macro different from micro general equilibrium...

Slow posting will continue for quite a while. Backlogged with work. At any rate, I've been reading (almost done now) Richard Davenport-Hines new book on Keynes, Universal Man: The Lives of John Maynard Keynes. Nothing new really. And that should not be a surprise after the biographies by Skidelsky and Moggridge.There are many little issues here and there, which is inevitable, given Keynes' own contradictions, and the overwhelming number of interpretations of his work. There is one point,...