is that what Say said? originally, growth theory involved disequilibrium (Harrod, Schumpeter). Then, with Solow, there was the assumption that the government would maintain full employment. Now, it's back to Say...
On 7/16/05, tom walker <[EMAIL PROTECTED]> wrote: > Yes, I had heard about this Monsieur Say. He's the guy > they sing about in the star spangled banner, n'est > pas? "Oh, Say, can you see?" But the implication of > this is clearly that uncertainty has been banished > from science. This is such exciting news. > > The Sandwichman > > --- Michael Perelman <[EMAIL PROTECTED]> > wrote: > > > Markets left to their own devices reach equilibria > > (at least in the long > > run) [assuming all sorts of unlikely conditions, > > shhhh], so effective demand is not a > > problem. Check out the latest work by the hot > > French economist, J.B. Say. > > > > On Sat, Jul 16, 2005 at 10:14:49PM -0400, tom walker > > wrote: > > > "Modern macroeconomics understands well why the > > > long-term behavior of output and employment is not > > > limited by effective demand." > > > > > > and what does it mean? > > > > > > The Sandwichman > > > > > > __________________________________________________ > > > Do You Yahoo!? > > > Tired of spam? Yahoo! Mail has the best spam > > protection around > > > http://mail.yahoo.com > > > > -- > > Michael Perelman > > Economics Department > > California State University > > Chico, CA 95929 > > > > Tel. 530-898-5321 > > E-Mail michael at ecst.csuchico.edu > > > > > __________________________________________________ > Do You Yahoo!? > Tired of spam? Yahoo! Mail has the best spam protection around > http://mail.yahoo.com > -- Jim Devine "Science is the belief in the ignorance of the experts" -- Richard Feynman
