Say’s Law, often summarised by the phrase “supply creates its own demand,” is one of the most debated principles in the history of economic thought. At its core, it asserts that production is the source of demand: the act of producing goods generates incomes that enable equivalent purchasing power, thereby ensuring that general overproduction, or a “general glut,” is impossible. Although sometimes caricatured, Say’s Law has played a central role in shaping classical and neoclassical economic theory, as well as in providing a foil for later critiques, most notably from John Maynard Keynes.
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