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Title: Say's Law and the Business Cycles
Contributor(s): Meng, Xianming  (author)orcid 
Publication Date: 2006
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Abstract: The relationship between Say's Law and the business cycle has been vigorously debated but no generally accepted agreement has yet been reached. Although this is a disputed topic, revisiting it anew could further develop economic theory, and enhance the further growth of the global economy. By scrutinising Say's Law, and its implicit business cycle theories, this paper claims that general gluts are possible, and that the essence of the business cycle is in innovation scarcity. Thus in order to reduce the effects of the business cycle and spur economic growth, a thorough revision of patent laws is necessary.
Publication Type: Journal Article
Source of Publication: Annals of Economics and Finance, 7(2), p. 295-319
Publisher: Peking University Press
Place of Publication: China
ISSN: 1529-7373
Field of Research (FOR): 140102 Macroeconomic Theory
140101 History of Economic Thought
HERDC Category Description: C2 Non-Refereed Article in a Scholarly Journal
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