2 thoughts on “‘What a country wants to make it richer, is never consumption, but production’”

  1. Posted 09/03/2012 at 12:28 | Permalink

    I always savour a column on Say’s Law by Professor Kates!

  2. Posted 09/03/2012 at 19:35 | Permalink

    It is of the utmost importance to bring back the classical perspective to economics. For anyone interested in the full story behind the above topic, I highly recommend ‘Free Market Economics. An Introduction to the General Reader’. This excellent book is not just for the general reader, but just as much for the advanced economists that have never been taught the meaning of Say’s Law.

    Another very good introduction, taking into account the forgotten good in classical economics is George Reismans’s ‘Capitalism’. A huge book of 1100 pages, though.

    For beginners, students at any level of advancement, and professional and otherwise accomplished economists ‘Free Market Economics’ by Steven Kates is the best (initial) read. Well-written, intelligible, original, not too lengthy, with an important message that serious economics cannot afford to ignore.

    Best regards from Germany.

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