----------------- HES POSTING ----------------- 
 
Steven, 
 
Thank you for confirming that my memory regarding the respective  
roles of the Mills in all this was not completely incorrect.  I dug into  
this several years ago out of curiosity.   
 
Now, I do not have a copy of Say's book in my office, and am not  
going to the library now to check it out.  But, when I was interested in  
this I did go look at it, probably the first edition. I remember  
somewhere in the book that he allowed for the possibility of what we  
would call "hoarding" of money.  And, at that point, he allowed as how  
what you are calling the "law of markets" might not work.  Certainly  
through much of the book he was a more or less advocate of "Say's  
Law."  But, my remarks about his views were not that he was an  
ineffective advocate or one who had poorly thought out his arguments.   
Rather it was that he in fact, at least in one edition, admitted somewhere  
that the "law" might not always hold if persons hoarded money.   
 
Barkley Rosser 
 
------------ FOOTER TO HES POSTING ------------ 
For information, send the message "info HES" to [log in to unmask]