Economics Research Institute Study Paper
Utah State University Department of Economics
Supply creates its own demand. So reads the common, terse rendering of Say's Law of Markets. With such philosophical abbreviations, it can be of little wonder why the economic logic contained in the Law of Markets has been misunderstood, disparaged, and completely disavowed by the majority of economists for the past five decades. Adherents, as well as detractors, seemingly have not understood it. An example of recent vintage is George Gilder, a neoconservative "economic theorist" who, in confusion, found John Kenneth Galbraith rediscovering Say's Law-business creates consumer desires, hence, consumer demand. Joseph Schumpeter even made the claim that J.-B. Say "hardly understood his discovery himself."
Israelsen, L. Dwight and Sanders, Kenneth K., "The Law of Markets as Enunciated by Jean-Baptiste Say" (1996). Economic Research Institute Study Papers. Paper 76.