----------------- HES POSTING ----------------- Yes, any attempt to bypass the reswitching conundrum by purely theoretical arguments must obviously fail. The only argument,as I have endlessly but fruitlessly contended, is an empirical one:noone has ever shown that reswitching actually occurs in any even quasi- realistic model. The analogy with positively sloped demand curves is perfect! Mark Blaug ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]