Of course we talking about
Of course we talking about “overproduction” of commodities as articles produced for sale in relation to the market for them, not of products in relation to people’s needs. As Marx pointed out (in Volume 2 of Theories of Surplus Value:
Quote:
The word over-production in itself leads to error. So long as the most urgent needs of a large part of society are not satisfied, or only the most immediate needs are satisfied, there can of course be absolutely no talk of an over-production of products— in the sense that the amount of products is excessive in relation to the need for them. On the contrary, it must be said that on the basis of capitalist production, there is constant under-production in this sense. The limits to production are set by the profit of the capitalist and in no way by the needs of the producers. But over-production of products and over-production of commodities are two entirely different things.