Say's Law--the idea that "supply creates its own demand"--has been a
basic concept in economics for almost two centuries. Thomas Sowell
traces its evolution as it emerged from successive controversies,
particularly two of the most bitter and long lasting in the history of
the discipline, the "general glut controversy" that reached a peak in
the 1820s, and the Keynesian Revolution of the 1930s. These
controversies not only involved almost every noted economist of the time
but had repercussions on basic economic theory, methodology, and
sociopolitical theory. This book, the first comprehensive coverage of
the subject, will be an indispensable addition to the history of
economic thought. It is also relevant to all social sciences concerned
with economic prosperity, with the nature of intellectual orthodoxy and
insurgency, or with the complex relationships among ideology, concepts,
and policies.
Originally published in 1972.
The Princeton Legacy Library uses the latest print-on-demand
technology to again make available previously out-of-print books from
the distinguished backlist of Princeton University Press. These editions
preserve the original texts of these important books while presenting
them in durable paperback and hardcover editions. The goal of the
Princeton Legacy Library is to vastly increase access to the rich
scholarly heritage found in the thousands of books published by
Princeton University Press since its founding in 1905.
