Seminar 3: Say’s Law

When: Thursday 3 June, 7pm
Where: University of Auckland Business School,

Room: TBC

In this month’s class, we continue our look at some of the important economic ideas which are rarely discussed these days but, can provide us great insight especially at times like this when the economies of many countries are plunged into recession.

Say’s Law, or the Law of Markets, is an economic proposition attributed to French businessman and economist Jean-Baptiste Say (1767–1832). “Say’s Law is obviously true….it is neither trivial nor unimportant” wrote Joseph Schumpeter in History of Economic Analysis (1954). John Maynard Keynes claimed that he refuted Say’s law. But did he? Or did he just ignore it?

We are thrilled to have Sean Kimpton lead the discussion this coming Thursday on why an understanding of Say’s law is critical for any student of economics, or for any person interested in how market’s function. Sean is a lecturer in economics at AUT and has studied Say’s law for a number of years.

Feel free to pass this message on to any others who might be interested. Note, we are starting this week’s seminar at 7pm.