Say's law

English

Etymology

After Jean-Baptiste Say (1767-1832), a French economist and businessman.

Pronunciation
  • IPA(key): /ˈseɪz ˈlɔː/

Proper noun

Say's law

  1. (economics) A principle whereby those who produce anything must be paid sufficiently to buy the products they make, whether it be in a local economy or the world economy.
    In accordance with Say's law, if only Mexican wages are paid for products, then these products must eventually and inescapably be sold at Mexican prices, not American prices.
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