@techreport{Hopp20041803,
abstract = {Although historians of economic thought emphasize J.-B. Say's contributions to utility
theory, the structure of the subject matter of economics, entrepreneur theory and the
construction of the "law of markets," they rarely appreciate what Say accomplished in
the first edition of the Trait\'{e} d'\'{E}conomie Politique. Only in chapters 21 and 22 of his
1803 Treatise, however, does Say sketch business firms as institutions that create and
operate markets. In doing so, he essentially provides the basis for a non-walrasian concept
of the coordination problem of a decentralized economic system. Thus, concerning
Adam Smith's metaphor of the "invisible hand," Say ought to be considered as the first
theorist to introduce into economic literature what Robert W. Clower called the "visible
fingers" of the "invisible hand."},
author = {Stefan Hopp},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D50; B12; 330; Invisible Hand; General Equilibrium Theory; Jean-Baptiste Say; Market Maker; Say's Law; Des D\'{e}bouch\'{e}s; Marktmechanismus; Allgemeines Gleichgewicht; Dogmengeschichte; Theorie; Say Jean Baptiste},
language = {eng},
number = {47},
title = {J.-B. Say's 1803 Treatise and the Coordination of Economic Activity},
type = {BERG working paper series on government and growth},
url = {http://hdl.handle.net/10419/22481},
year = {2004}
}
