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Say's Law--the idea that "supply creates its own demand"--has been a basic concept in economics for almost two centuries. Thomas Sowell traces its evolution as it emerged from successive controversies, particularly two of the most bitter and long lasting in the history of the discipline, the "general glut controversy" that reached a peak in the 1820s, and the Keynesian Revolution of the 1930s. These controversies not only involved almost every noted economist of the time but had repercussions on basic economic theory, methodology, and sociopolitical theory. This book, the first...

Thomas Sowell's many writings on the history of economic thought have appeared in a number of scholarly journals and books, and these writings have been praised, reprinted, and translated in various countries around the world.

The classical era in the history of economics is an important part of the history of ideas in general, and its implications reach beyond the bounds of the economics profession. On Classical Economics is a book from which students can learn both history and economics. It is not simply a Cook's tour of colorful personalities of the past but a study of how...

These wide-ranging essays--on many individual political, economic, cultural and legal issues--have as a recurring, underlying theme the decline of the values and institutions that have sustained and advanced American society for more than two centuries. This decline has been more than an erosion. It has, in many cases, been a deliberate dismantling of American values and institutions by people convinced that their superior wisdom and virtue must over-ride both the traditions of the country and the will of the people.

Whether these essays (originally published as syndicated newspaper...

Say's Law--the idea that "supply creates its own demand"--has been a basic concept in economics for almost two centuries. Thomas Sowell traces its evolution as it emerged from successive controversies, particularly two of the most bitter and long lasting in the history of the discipline, the "general glut controversy" that reached a peak in the 1820s, and the Keynesian Revolution of the 1930s. These controversies not only involved almost every noted economist of the time but had repercussions on basic economic theory, methodology, and sociopolitical theory. This book, the first...