Why Your Grandfather’s Economics Was Better than Yours: On the Catastrophic Disappearance of Say’s Law

I would like to thank Joe Salerno for his kind invitation to present the Ludwig von Mises lecture for 2010, in this way giving me the opportunity to present these views on the classical theory of the cycle and Say’s Law to a wider audience. I would also like to thank my good friend, Peter Smith, who provided excellent and sympathetic advice on an earlier draft of this paper.

Ludwig von Mises Lecture
Austrian Scholars Conference
Ludwig von Mises Institute
Auburn, Alabama
March 13, 2010

Review of Non-Market Entrepreneurship: Interdisciplinary Approaches, by Gordon E. Shockley, Peter M. Frank, and Roger Stough, eds.

Volume 13, No. 4 (Winter 2010)

 

Much of what is contained within this book has more to do with developing a typology of various non-market institutions than explicitly developing theories of their more complex workings. In this sense, this volume serves as a useful bibliographic source for information on this emerging field of research, and the multi-disciplinary scope of the essays ensures that anyone with even a passing interest in these matters will find something of note among the twelve chapters.