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James, 
 
Guess you did not bother to read the quote from Say.  He admitted  
the possibility of hoarding and clearly saw that it could lead to  
economic problems.  I would fully grant that he saw this as due  
ultimately to either arbitrary governments, unstable conditions, or  
"superstitious" cultural arrangements.  He certainly thought that  
under the right conditions, "Say's Law" would hold. But, it is also  
clear that he recognized that some of the above "exceptional"  
conditions could last for a long time, for centuries in fact, as did  
Keynes in the case of India.   
 
Barkley Rosser 
 
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