Say's law

IPA(Pronunciation)

/ˈseɪz ˈlɔː/

Proper noun

(economics) A principle whereby those who produce anything must be paid sufficiently to buy the products they make, whether it be in a local economy or the world economy.

Japanese Meaning

経済学上の原理で、生産者は自らが生産した商品やサービスを購入するために十分な賃金が支払われなければならないという考え方。これは地域経済だけでなく、世界経済全体に適用されると解釈される。

What is this buttons?

When policymakers debate unemployment, they sometimes invoke Say's law to argue that production creates its own demand.

Google Translation / DeepL Translation

政策担当者が失業を議論する際、彼らはしばしば、生産者が自分たちの生産物を購入できるだけの十分な対価を得るべきだという原則を引き合いに出して、生産が自ら需要を生むと主張することがある。

Details

Sense（1）

(economics) A principle whereby those who produce anything must be paid sufficiently to buy the products they make, whether it be in a local economy or the world economy.

In accordance with Say's law, if only Mexican wages are paid for products, then these products must eventually and inescapably be sold at Mexican prices, not American prices.

Google Translation / DeepL Translation

Details

Say's law

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