Excerpt from A Lecture on the Notion of Value as Distinguishable Not Only From Utility, but Also From Value in Exchange: Delivered Before the University of Oxford, in Michaelmas Term 1833 A question has been sometimes agitated re specting the possibility of a general glut of com modities, or, in other words, of universal over production. A glut of commodities of any one species, is on all hands admitted to be, not only a possible but a frequent occurrence. So, like wise, but in a decreasing degree of probability and frequency, of two, three, four, or more species. All, therefore, that is denied, is, the probability of its extending at once to the majo rity of commodities, and the possibility of its being universal. I mention this question, not with the View of entering on the full consideration of it at present, but only because it will be useful to my purpose to draw attention to some of the arguments advanced by those who maintain the.