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J. B. Say on Unemployment and Public Works

Author

Listed:
  • William J. Baumol

    (Starr Center for Applied Economics, New York University
    Princeton University)

Abstract

Part of a Symposium entitled, "Say's Law Revisited," this note is dedicated to showing that both Say's and Ricardo's concerns about unemployment were deeper than even the Kates article (in this symposium) suggests, that this concern even led Say to advocate a clear Keynesian remedy for unemployment: public works. Correspondingly, the paper shows that Ricardo's disquiet about joblessness constitutes a good part of his reversal on the role of machinery (i.e., innovation) that so distressed his adherents.

Suggested Citation

  • William J. Baumol, 1997. "J. B. Say on Unemployment and Public Works," Eastern Economic Journal, Eastern Economic Association, vol. 23(2), pages 219-230, Spring.
  • Handle: RePEc:eej:eeconj:v:23:y:1997:i:2:p:219-230
    as

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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume23/V23N2P219_230.pdf
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    Citations

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    Cited by:

    1. Vahabi, Mehrdad, 2003. "La contrainte budgétaire lâche et la théorie économique
      [Soft Budget Constraint and Economic Theory]
      ," MPRA Paper 17651, University Library of Munich, Germany.

    More about this item

    Keywords

    Unemployment;

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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