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Read the economic article and answer two questions
WHY YOUR GRANDFATHER’S ECONOMICS WAS BETTER THAN YOURS: ON THE CATASTROPHIC DISAPPEARANCE OF SAY’S LAW
https://mises.org/system/tdf/qjae13_4_1.pdf?file=1…
questions:
1.State the key proposition of Say’s Law. What insight does it contain regarding the nature of human cooperation under a system of division of labor?
2.Using the insight provided by Say’s Law, explain the consequences of a significant distortion of the structure of production relative to consumer preferences. How does the initial crisis or cluster of errors snowball into a recession?
Nots: Must according to this article to answer questions! can not just find other sources to answer it. It’s the essential requirement. Thank you
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