This is a podcast of me talking to Tom Woods about Say’s Law. I think of it as the single most important economic issue of our time, because if we don’t finally work it out that Keynes got it completely wrong, we are going to create for ourselves a permanently lower standard of living and a widening underclass of the unemployed and under-employed. You cannot make an economy grow from the demand side. It is so rare to find someone who understands the point, making this an almost unique and quite exceptional place from which you can discover what the issues are and why they matter. Most of it is found in great detail in my Say’s Law and the Keynesian Revolution but there are some things I have discovered since, many of which are found in the Liberty Fund discussion on the Economics of John Stuart Mill for which I wrote the lead article. But the podcast gives a summary of everything that matters, which can only happen when the person asking the questions understands the issues himself.
My endless thanks to Tom Woods for doing this podcast and for recognising the importance of Say’s Law.