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French President Endorses Say??s Law!

On January 14, 2014, President Hollande used Say??s maxim as a guide for the French economy of the future.

??L??offre crée même la demande. Supply even creates demand.? — J. B. Say

Earlier this month, François Hollande, the president of France who calls himself a ??socialist,? endorsed Say??s law, the idea that production is more important than consumption if you want to grow the economy. This supply-side formula originally was propounded by the great French economist, Jean-Baptiste Say, in the early 19th century, and is commonly phrased ??Supply creates its own demand.?

On January 14, 2014, President Hollande used Say??s maxim as a guide for the French economy of the future:

??Le temps est venu de régler le principal problème de la France : sa production. Oui, je dis bien sa production. Il nous faut produire plus, il nous faut produire mieux. C??est donc sur l??offre qu??il faut agir. Sur l??offre ! Ce n??est pas contradictoire avec la demande. L??offre crée même la demande.?

Translated, he stated: ??The time has come to resolve the main problem of France: its production. Yes, I mean its production. We need to produce more, we must produce better: Supply even creates demand.?

This is quite an admission for a ??socialist.?

Read more about how supply and demand will affect the world economy moving forward at Eagle Daily Investor.

Written By

Mark Skousen is a college professor, prolific author and world-renowned speaker. He??s made his unique sense of market and investment trends known and respected in the financial world. With a Ph.D. in economics and a focus on the principles of free-market capitalism and ??Austrian? economics, Mark Skousen has often gone contrary to the crowd in his investment choices and economic predictions ?? and has often been proved right.

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