Post by NoFixedAddress on Jul 30, 2020 6:27:37 GMT 8
mamster #3528512, posted on July 30, 2020 at 7:34 am
I’ve been reading Catallaxy for quite a few years now and I have never read a really simple explanation of Says Law. I also studied undergraduate economics on the way to a BCom (finance) and never came across it. Are you saying (no pun intended) that any individual’s ability to consume is dictated by what they can produce and exchange in the market for money, to acquire products of other people’s efforts, and so accordingly to bring about more demand in aggregate you need individuals to produce more. So if you simply try to created demand by giving people cash to spend that is not earned by productive means, that simply displaces spending of productive individuals who have earned their cash in the market by selling their product? Presumably creating inflation or other signalling distortions?
The enemy have us surrounded. Good! Now we know where to find the bastards! -various