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borndied
15451612 ca
an economist, born in Beausemblant, France. He is known as the first person to write about underconsumption. In 1598 Laffemas continued writing his ideas on trade and manufacture. Writing his ideas may have been required to receive support from Henry IV. They acted as a balance to those of Sully, more interested in agriculture. In the same year Laffemas published Les Trésors et richesses pour mettre l'Estat en splendeur, which blasted those who frowned on French silks because the industry created employment for the poor. This is the first known mention of Underconsumption Theory, which is later refined by John Maynard Keynes.
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