J.B. Say and the Classical economists, followers of Say’s Law, offered two explanations of why a recession or economic depression (like the Great Depression) would be short-lived. Unemployment would disappear and leakages of savings would not be a problem for the economy. What are those explanations?

Answer rating: 100% (QA)

The two explanations offered by JB Say and the Classical economists for why recessions or economic d... View the full answer