Say's Law

(noun)

The idea that money is perishable.

Related Terms

Examples of Say's Law in the following topics:

  • Clearing the Market at Equilibrium Price and Quantity

    • This definition requires a variety of assumptions which simplify the complexities of real markets to coincide with a more theoretical framework, most centrally the assumptions of perfect competition and Say's Law:
    • Say's Law hinges on the concept that capital loses value over time, or that money is essentially perishable.
    • The simplest way to view this law is interest rates.

  • Production Orientation

    • This business practice can also be explained by Say's Law , which states that "products are paid for with products" and that "production of commodities creates, and is the one and universal cause which creates a market for the commodities produced. "
    • Jean-baptiste Say was the popularizer, but not originator, of the economic theory, Say's Law.

  • Classical Theory

    • Supply creates its own demand: based on Say's Law, classical theorists believed that supply creates its own demand.

  • Aggregate Expenditure at Economic Equilibrium

    • Classical economists believed in Say's law, which states that supply creates its own demand.

  • Gauss's Law

    • Gauss's law is a law relating the distribution of electric charge to the resulting electric field.
    • Gauss's law can be used to derive Coulomb's law, and vice versa.
    • In fact, Gauss's law does hold for moving charges, and in this respect Gauss's law is more general than Coulomb's law.
    • Gauss's law has a close mathematical similarity with a number of laws in other areas of physics, such as Gauss's law for magnetism and Gauss's law for gravity.
    • In fact, any "inverse-square law" can be formulated in a way similar to Gauss's law: For example, Gauss's law itself is essentially equivalent to the inverse-square Coulomb's law, and Gauss's law for gravity is essentially equivalent to the inverse-square Newton's law of gravity.

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  • Common Law

    • Law of the United States was mainly derived from the common law system of English law.
    • At both the federal and state levels, the law of the United States was mainly derived from the common law system of English law , which was in force at the time of the Revolutionary War.
    • American judges, like common law judges elsewhere, not only apply the law, they also make the law.
    • As a result, the laws of any given state invariably differ from the laws of its sister states.
    • Instead, it must be regarded as 50 separate systems of tort law, family law, property law, contract law, criminal law, and so on.

  • Civil Law and Criminal Law

    • Criminal law is the body of law that relates to crime and civil law deals with disputes between organizations and individuals.
    • Criminal law is the body of law that relates to crime.
    • Criminal law also sets out the punishment to be imposed on people who do not obey these laws.
    • The law relating to civil wrongs and quasi-contract is part of civil law.
    • The objectives of civil law are different from other types of law.

  • Primary Sources of American Law

    • The primary sources of American Law are: constitutional law, statutory law, treaties, administrative regulations, and the common law.
    • These sources are constitutional law, statutory law, treaties, administrative regulations, and the common law.
    • At both the federal and state levels, the law of the United States was originally largely derived from the common law system of English law, which was in force at the time of the Revolutionary War.
    • Thus, most U.S. law consists primarily of state law, which can and does vary greatly from one state to the next.
    • First, all U.S. states except Louisiana have enacted "reception statutes" which generally state that the common law of England (particularly judge-made law) is the law of the state to the extent that it is not repugnant to domestic law or indigenous conditions.

  • The Law of Multiple Proportions

    • The law of multiple proportions states that elements combine in small whole number ratios to form compounds.
    • The law of multiple proportions, also known as Dalton's law, was proposed by the English chemist and meteorologist John Dalton in his 1804 work, A New System of Chemical Philosophy.
    • The law, which was based on Dalton's observations of the reactions of atmospheric gases, states that when elements form compounds, the proportions of the elements in those chemical compounds can be expressed in small whole number ratios.
    • Dalton's law of multiple proportions is part of the basis for modern atomic theory, along with Joseph Proust's law of definite composition (which states that compounds are formed by defined mass ratios of reacting elements) and the law of conservation of mass that was proposed by Antoine Lavoisier.
    • These laws paved the way for our current understanding of atomic structure and composition, including concepts like molecular or chemical formulas.