@article{69801, 
year={2021},
issn={2280-188X},
journal={HISTORY OF ECONOMIC THOUGHT AND POLICY},
number={1},
volume={10},
doi={10.3280/SPE2021-001004},
title={Robert Torrens on Say’s Law and the General Glut},
abstract={This paper analyzes how Robert Torrens’s system of prices is applied to the aggregate economy. His personal interpretation of Say’s Law is articulated with a numerical illustration and the Hawkins-Simon conditions to exemplify how the correct supply of the ingredients of capital is presented as a necessary condition for the full clearing of markets. Next, the possible causes of a shortage in effectual demand are discussed. The quantitative illustrations developed by Torrens are carefully reviewed to show how the monetary factors play a crucial role during the general glut, as well as the appropriate policy measures to stabilise the economy. The final comments reflect on the originality of Torrens’s theoretical work.}
url={http://www.francoangeli.it/Riviste/Scheda_rivista.aspx?idArticolo=69801},
author={Rogério Arthmar and Taro Hisamatsu}
pages={83-105},
language={EN}}