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dc.contributor.authorHopp, Stefanen_US
dc.description.abstractAlthough 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 Traité d'Économie 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."en_US
dc.relation.ispartofseriesBERG working paper series on government and growth 47en_US
dc.subject.keywordInvisible Handen_US
dc.subject.keywordGeneral Equilibrium Theoryen_US
dc.subject.keywordJean-Baptiste Sayen_US
dc.subject.keywordMarket Makeren_US
dc.subject.keywordSay's Lawen_US
dc.subject.keywordDes Débouchésen_US
dc.subject.stwAllgemeines Gleichgewichten_US
dc.subject.stwSay Jean Baptisteen_US
dc.titleJ.-B. Say's 1803 Treatise and the Coordination of Economic Activityen_US
dc.typeWorking Paperen_US
Appears in Collections:BERG Working Paper Series, Universität Bamberg

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