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Updated: June 25, 2025
The essentials of the doctrine are preserved when it is allowed that there cannot be permanent excess of production, or of accumulation; though it be at the same time admitted, that as there may be a temporary excess of any one article considered separately, so may there of commodities generally, not in consequence of over-production, but of a want of commercial confidence.
When the supply of any commodity increases faster than the demand, we have over-production and falling prices. Vice-versa, under-production is shown by a rising price. That prices of poultry and eggs have risen and risen rapidly, has already been shown. "But prices of all products have risen," says one.
'Kind frens, said Philpot, removing his cap and addressing the crowd, 'we're hall honest British workin' men, but we've been hout of work for the last twenty years on account of foreign competition and over-production. We don't come hout 'ere because we're too lazy to work; it's because we can't get a job.
On the one hand, farm-rent stops at a certain point; on the other, in consequence of competition and over-production, the price of manufactured goods does not rise, so that the condition of the peasant varies but little, and depends mainly on the seasons. The devouring action of property bears, then, principally upon business.
Neither does this give employment to his capital; for there never exists more capital than can find employment, and if one person does not buy his goods another will; or if nobody does, there is over-production in that business, he can remove his capital, and find employment for it in another trade. Every one sees the fallacy of this reasoning as applied to individual producers.
During the fourth quarter of 1841 four great failures, happening in an English manufacturing city, threw seventeen hundred and twenty people on the street. These failures were caused by over-production, that is, by an inadequate market, or the distress of the people. What a pity that machinery cannot also deliver capital from the oppression of consumers!
There is much talk about supply and demand, but the supply and demand usually meant is an artificial one; it is under the sway of the gambling market; the demand is forced, as I hinted above, before it is supplied; nor, as each producer is working against all the rest, can the producers hold their hands, till the market is glutted and the workers, thrown out on the streets, hear that there has been over-production, amidst which over-plus of unsaleable goods they go ill-supplied with even necessaries, because the wealth which they themselves have created is "ill-distributed," as we call it that is, unjustly taken away from them.
'Whether it can be altered or not, whether it's right or wrong, landlordism is one of the causes of poverty, Owen repeated. 'Poverty is not caused by men and women getting married; it's not caused by machinery; it's not caused by "over-production"; it's not caused by drink or laziness; and it's not caused by "over-population". It's caused by Private Monopoly. That is the present system.
While these greenish particles, which you may perhaps mistake for chrysolite, or some similar unisilicate, really contain the precious metal, they are not entirely composed of it. The process by which I separate out the metallic element while the ore is passing through the furnace is, in truth, quite simple, and its very simplicity guards my secret. Make your minds easy as to over-production.
He halted before he came in sight of the stream; if Fran had a mind to fish with Simon Jefferson, he would not spoil her sport. He found a comfortable log where he might study under the gracious sky. Across the road, a bill-board flaunted a many-colored advertisement, but it did not distract his attention it had lost its novelty from over-production.
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