[I am redistributing this message because many of you were not able to read it. HB] I would add to James Ahiakpor's comments on the question of a full employment assumption by Ricardo and other Classical School theorists my scepticism that "full employment" is capable of any definition that does not include institutional assumptions. The Law of Comparative Advantage--the more general version of which Ludwig von Mises termed "The Law of Association"--assumes only willing traders with unequal capabilities in production. It doesn't assume that either one of them commits to either a one-hour day or a 24-hour day of labor. That also applies to the "full-time" employment of any of their higher-order goods. Those assumptions would seem to be part of the institutional context within which the theory would be applied to the actual market process. Samuel Bostaph