----------------- HES POSTING ----------------- [Posted on behalf of Steve Keen. -- RBE] Barkley's quote from Marx moved me to put forward a related statement by Marx on the same issue, in which he explicitly rejects the foundation of "Say's/Walras' Law/Principle" that the sum of all notional excess demands is zero: "The capitalist throws less value in the form of money into the circulation than he draws out of it... Since he functions ... as an industrial capitalist, his supply of commodity-value is always greater than his demand for it. If his supply and demand in this respect covered each other it would mean that his capital had not produced any surplus-value... His aim is not to equalise his supply and demand, but to make the inequality between them .... as great as possible" (Marx 1885) Steve Keen ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]