Uploaded September 2016 | Updated September 2026, 3 weeks ago

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Professor Steve Keen explaining the neoclassical idea of "Say's Law," which believes that "general slumps," where there is too much production in the entire economy, can't happen. Keen points out some of the flaws in the reasoning, which depends on producers immediately spending all of their income, rather than routinely saving in order to accumulate financial wealth.

Watch the whole lecture here: youtube.com/watch?v=-uZzVzwJZqY

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