The true cost of abandoning Say’s Law

Keynes trashed Say’s Law to invent macroeconomics — a non-science full of errors, anti-market, and pro-government interfering. It has led to today’s increasingly visible crisis.

The magnitude of the error cannot be emphasised enough. Imagine employing an electrician ignorant of Ohm’s Law: sooner or later he will blow up your wiring and probably himself and your house as well. Similarly, the consequences of ignoring the truth in French economist Jean-Baptiste Say’s writings, collectively summarised as Say’s Law, blows up entire economies. As Ohm’s Law is the basis of everything electrical and electronic, Say’s description of how the division of labour and specialisation of skills works was and is still the basis of all economic activity.

Ignoring what Say wrote over two centuries ago is leading to our economic destruction, and that destruction is laid at Keynes’s door.