Louis Auguste Say 101: Who is the Famous Businessman and Economist? in our article of Zatrun.com, we will cover in detail everything you need to know about Louis Auguste Say, the famous French businessman and economist that our readers are curious about.
Who is Louis Auguste Say?
Louis Auguste Say, born on March 9, 1774 in Lyon, France, was an important French economist and entrepreneur. His family had a rich history. His paternal ancestors were Protestants exiled from Nîmes and eventually settled in Geneva. Say’s father, Jean-Etienne Say, was a silk merchant of Swiss origin, and his mother, Françoise Brun de Castanet, was French.
Say went on to establish large sugar refineries in Paris and Nantes and founded the famous “Say” sugar company, which was later renamed Béghin-Say in 1972. Today, Béghin-Say operates as a subsidiary of Tereos. At the same time, Say’s younger brother Jean-Baptiste Say also became an economist, known for his classical liberal stance.
Career Life:
Louis Auguste Say’s business career began as a broker in Paris, after which he moved to Abbeville to work in the calico bleaching industry. in 1813, Louis Auguste Say sought the help of Jules Paul Benjamin Delessert to propose to his cousin Armand Delessert, the owner of a beet sugar refinery in Nantes. After a short period of time, Say moved to Nantes and took over the refinery. in 1815, when the government changed the tariff laws, sugar cane started to be used. Say eventually transferred control of the refinery to his son Horace. Originally known as Louis Say et Cie, the company was later renamed Béghin-Say and today operates as a subsidiary of Tereos.
Say’s entrepreneurial spirit was not limited to sugar production. in 1832, he collaborated with Constant Duméril to establish a beet sugar factory in Ivry-sur-Seine. The factory, known as the “Raffinerie de Jamaïque” (meaning “Jamaica refinery” in English), was another successful venture for Say.
His Articles About the Economy:
Louis Auguste Say, who became Decently rich at the age of forty-four before turning to economics, wrote four books on political economy between 1818 and 1836. Although he was considered an “amateur” in the field of economics by historian Marc Penouil, Louis Auguste Say managed to make important contributions to the subject.
Say was different from his brother Jean-Baptiste, a classical liberal economist. While Jean-Baptiste focused on individual wealth and believed in free trade, Louis Auguste emphasized the relationship between usefulness and value and made between national wealth and individual wealth. Louis Auguste, unlike classical liberals, supported tariffs as a way to stimulate production. But he strongly opposed taxes.
Also in 1809, Say married Constance Maressal and together they had four sons: Gustave, Achille, Constant and Louis Octave Say. Louis Auguste Say died in Paris on May 6, 1840 at the age of 66.
