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On Mon, 20 Dec 1999, Mathew Forstater replied to Hamid Hosseini: 
 
> It is important to remember the difference between the laws of supply  
> and demand and the *theory* of supply and demand,  
 
I would elaborate with, that is the Competitive Equilibrium of Supply  
and Demand interpretation of Price. 
 
Interpreted this way, it is certainly different from recognizing the  
"forces" of supply and demand, which is probably the main point of  
Mat's reply.  I am not sure it is different from knowing the "laws."   
 
----Paul 
 
Paul Wendt, Watertown MA 
Asst.editor, HES e-info services (history of economics) 
 
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