Jean-Baptiste Say

Jean-Baptiste Say was a French classical economist and businessman, and among the first economists to treat entrepreneurship as a distinct productive function rather than folding it into labor or capital. His 1803 Traite d'economie politique set out the argument, later shortened by others to supply creates its own demand, that a good's production simultaneously creates the income to buy other goods, a proposition classical and later Austrian economists took as ruling out a general glut and that Keynesian economics explicitly rejects as a description of a modern monetary economy.