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On Thu, 20 Apr 2000, JAMES C. W. AHIAKPOR wrote: 
 
> Of course, Say's Law admits the over-production of some specific 
> commodities -- which would lead to their prices falling in order 
> to clear their supplies.   
 
1. ALL commodity production is the production of SPECIFIC  
commodities.   
 
2. The over-production of some specific commodities COULD lead  
to their prices falling, but it also could lead to any number of other  
events occuring -- from soaking oranges in creosote to financial  
bubbles to government bailouts and thousands of other  
possibilities. The price WOULD fall to market clearing level with  
perfectly competitive markets, perfect information and all those  
other perfections that could no more exist than could "general" over- 
production (see point 1).   
 
Tom Walker 
 
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