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Although he may have invented the wording, Keynes certainly didn't  
invent the incorrect abbreviation of the issues. There is a 1924 textbook  
discussion by Raymond Bye of fallacies of overproduction (Bye cites  
Fred Taylor's textbook as a source) that is emphatic in the claim that  
overproduction CAN'T occur because Say's Law says it can't. Bye  
spends several pages addressing the "lump of labor fallacy", which  
purportedly asserts there is a fixed amount of work to be done. But  
since supply creates its own demand (Say's Law) there obviously is not  
a fixed amount of work to be done (lump of labor fallacy).   
 
All of which relies on the omission of Mill's qualifying phrase. I dare  
say the old wages-fund doctrine plays an important role behind the  
scenes in assuring the imaginary certainty that increased supply creates  
its own demand.   
 
Tom Walker 
 
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