Re: Case solved, at last!

["Bruce R. McFarling" <ecbm@xxxxxxxxxxxxxxxxxxx>]

How can the following be true:

>In fact, there is nothing mysterious about Say's Law - it
>restates in terms of Supply in the Factor Market and Demand
>in the Market for Final Ouput the logical implications of
>the maximizing attributes of Homo Economicus which underlies
>all of Economic Science.

When the movement to develop maximising attributes as the
foundation of all Economic Science took place when Say was
dead?  The classical political economic Say's law cannot
conceivably be the working out of the implications of
an approach to economic theory that did not yet exist.

Further, the logical implications of the maximising
attributes of "Homo Economicus" can only possibly be
valid in appropriate microeconomic questions, since
for macroeconomic issues that involve the characteristics
of the economic system as a whole, maximising attributes
alone do not suffice.  Therefore, since Says Law is a
macro level characterisation, founding it as

>the logical implications of the maximizing attributes of
>Homo Economicus which underlies all of Economic Science.

is to say that it is without adequate foundation.


Virtually,

Bruce McFarling, Newcastle, NSW
ecbm@xxxxxxxxxxxxxxxxxxx