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Jean-Baptiste Say, French economist

Jean-Baptiste Say, French economist

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Jean-Baptiste Say (1767-1832), French economist and businessman. Say had liberal views and argued in favour of business competition and free trade. He is best known for Say's Law, which can be summarised as "supply creates its own demand". Say was one of the first to argue that money has a neutral effect on the economy. This idea that an increase in the amount of money in circulation would only increase the price of goods, but would not change their relative price, was developed into the "Quantity Theory of Money".

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