By Samuel Hollander

This booklet explores the perceived paradigmatic clash inside of British classical economics among the so known as 'Ricardo college' and the modern French Economics of Jean-Baptiste Say. Samuel Hollander offers the reader with vast proof, using all variations of Say's major texts and his lesser-known writings in an effort to exhibit his adherence to a lot of Ricardian thought. This interesting booklet specializes in chosen doctorinal matters and surrounding debates, and will curiosity all critical historians of financial thought, finding a position at the bookshelves of many economists the world over.

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Extra resources for Jean-Baptiste Say and the Classical Canon in Economics: The British Connection in French Classicism (Routledge Studies in the History of Economics)

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400) Despite his ‘cherté réelle’, in one Note Say seems to deny any regular tendency of market to natural price or, more accurately, he jettisons these concepts. For the exchange of products is portrayed as reducing to an exchange of productive services (a standard theme in the Traité), leading to the representation of the contrast between market and natural price as ‘chimérique’ since there are only current prices in the system including the prices of services. Here Say emphasises derived demand and says nothing of service-supply conditions: La distinction entre le prix naturel et le prix courant que M.

A farmer, a manufacturer, or a merchant, employs a certain number of workmen, who all have occasion to consume a certain quantity of corn. If the price of corn rises, he is obliged to raise, in an equal proportion, the price of his productions [Say 1814, 1: 255]. )9 Now, paradoxical as it may seem, Say in his Notes formally supports Ricardo, arguing in terms of the significance of a negatively-sloped demand curve to make the case for some, if only a small, effect on price of a wage increase: Au surplus, je crois, avec M.

297) Soliani maintains to similar effect that from 1814 onwards Say distanced himself from the ‘surplus’ tradition enunciated in the Traité of 1803, in favour of the Italo-French (‘supply–demand’) tradition represented by Galiani and Condillac (Soliani 2003). Forget claims that Say abandoned the cost explanation of value in the fifth edition of the Traité (1826) and the Cours Complet (1828–9), when he argued ‘that the prices of productive services depend upon the prices generated by the demand and supply for final commodities.

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