Say's law
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English
Etymology
After Jean-Baptiste Say (1767-1832), a French economist and businessman.
Pronunciation
Proper noun
- (economics) A principle whereby those who produce anything must be paid sufficiently to buy the products they make, whether it be in a local economy or the world economy.
- In accordance with Say's law, if only Mexican wages are paid for products, then these products must eventually and inescapably be sold at Mexican prices, not American prices.