Business

Economics 101: How to Understand Say’s Law

Written by the MasterClass staff

Last updated: Aug 16, 2021 • 4 min read

Say’s Law is a common precept of classical economics. The law is based on the writings of nineteenth-century French economist Jean-Baptiste Say, an early advocate of the free market economic theories. Say was influenced by Adam Smith, one of the most influential neoclassical economists in the history of economic thought.