Abstract
This essay examines Jean-Baptiste Say's (virtually unknown) annotated copy of the Wealth of Nations in order to gauge the impact on Say of Adam Smith just as the former was writing the Traite d'Economie politique (1803). Say introduced several ideas, including the immaterial commodity, derived demand fo r factors, and demand and supply analysis, while rejecting Smith's theory of natural value. Nevertheless, Say believed himself and Smith to be working in the same tradition.
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