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Old 03 June 2014, 11:19 AM
Steve Steve is offline
 
Join Date: 19 October 2002
Location: Charleston, SC
Posts: 4,906
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Quote:
Originally Posted by Johnny Slick View Post
It's a consequence of Say's Law.

http://en.wikipedia.org/wiki/Say's_law
Not really. Even your site says :
Quote:
Say's law was generally accepted throughout the 19th century, though modified to incorporate the idea of a "boom and bust" cycle.
But again, I'm puzzled who these economists are arguing that there aren't recessions. ETA: Are you talking about something like rational expectations or real business cycle theory?
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