It's an interesting debate, and the position I find convincing is that Say's law usually holds... except (rarely) when it does not, such as in the recent financ

It's an interesting debate, and the position I find convincing is that Say's law usually holds... except (rarely) when it does not, such as in the recent financial crisis. Believing that it always holds automatically is a fallacy of Classical economics. It's interesting that Jean-Baptiste Say himself was willing to learn from history. http://delong.typepad.com/sdj/2010/07/after-the-british-financial-crisis-and-depression-of-1825-6-jean-baptiste-say-was-too-smart-to-believe-in-says-law.html http://delong.typepad.com/sdj/2010/07/after-the-british-fina...