Its slightly inferred on Kantbots text. I've also talked about it before. But really, its just this:https://twitter.com/mfckr_/status/922746459467993088 …
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basically, screw Say's Law?
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Replying to @cyborg_nomade @EBBerger and
the classical interpretation of Say's Law is pretty much bullshit, so yeah, screw the original statement of Say's Law. There's some later reinterpretations that are valid, but they certainly arent applicable in here.
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Replying to @Marav0ne @cyborg_nomade and
Not sure how Say's Law establishes the autonomy of capital tbqh
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Replying to @_Vimothy_ @Marav0ne and
it just undermines the thesis that markets are commanded by consumption, and establishes the primacy of production. it's the internal logic of capitalist enterprises (increasing productive apparatus) that establishes capital autonomy.
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Replying to @cyborg_nomade @Marav0ne and
How does it establish the primacy of production?
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Replying to @_Vimothy_ @Marav0ne and
you have to produce something before being able to consume, hence supply yields its own demand.
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Replying to @cyborg_nomade @Marav0ne and
Your conclusion doesn't exactly follow from your premise.
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Replying to @_Vimothy_ @cyborg_nomade and
And why produce something for which no demand exists? U might also say (just as accurately) demand creates its own supply. the problem with both statements is that the flow of income in the economy is circular. there's no time zero from which the whole of economic activity begins
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Replying to @_Vimothy_ @Marav0ne and
i don't really disagree, the point is that you need to produce before you can consume, which establishes at least a logical precedence of production (if not necessarily a temporal one). otherwise I agree, a circuit is a matter of auto-production.
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the point is that aggregate supply creates aggregate demand (income is expenditure), not that production precedes consumption
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Replying to @_Vimothy_ @Marav0ne and
that's the neoclassical reading, yes.
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Replying to @cyborg_nomade @Marav0ne and
and say's reading: "As each of us can only purchase the productions of others with his own productions – as the value we can buy is equal to the value we can produce, the more men can produce, the more they will purchase."
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End of conversation
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