A Rehabilitation of Say’s Law (W. H. Hutt)
- Highlight Loc. 1649-51 | Added on Thursday, March 29, 2012, 12:39 PM
In so far as any recession, having once begun, has become self-perpetuating or self-aggravating, that has not been due to successive cost and price reductions. It has been due to the opposite—(a) resistances to co-ordinative cost and price reductions and (b) entrepreneurial recognition of the unwillingness of governments to perform their “classical” task.
