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Jean-Baptiste Say -
Production
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The celebrated Adam Smith was the first to point out the immense increase of production, and the superior perfection of products referable to this division of labour.
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Thus, it is the aim of good government to stimulate production, of bad government to encourage consumption.
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All travellers agree that protestant are both richer and more populous than catholic countries; and the reason is, because the habits of the former are more conducive to production.
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A man who applies his labour to the investing of objects with value by the creation of utility of some sort, can not expect such a value to be appreciated and paid for, unless where other men have the means of purchasing it. Now, of what do these means consist? Of other values of other products, likewise the fruits of industry, capital, and land. Which leads us to a conclusion that may at first appear paradoxical, namely, that it is production which opens a demand for products.
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It is production which opens a demand for products.... A product is no sooner created, than it, from that instant, affords a market for other products to the full extent of its own value.
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Regulation is useful and proper, when aimed at the prevention of fraud or contrivance, manifestly injurious to other kinds of production, or to the public safety, and not at prescribing the nature of the products and the methods of fabrication.
Jean-Baptiste Say
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I must have a prodigious quantity of mind; it takes me as much as a week sometimes to make it up.
Mark Twain
Jean-Baptiste Say
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Born:
January 5, 1767
Died:
November 15, 1832
(aged 65)
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