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Updated: June 8, 2025
The shining lips and eyes of his florid face now proclaimed speech, with his Puckish fancy jack-o'-lanterning over it. 'Business hangs to swing at every City door, like a ragshop Doll, on the gallows of overproduction. Stocks and Shares are hollow nuts not a squirrel of the lot would stop to crack for sight of the milky kernel mouldered to beard.
That purpose of the anti-trust laws must be continued, but these laws were never intended to encourage the kind of unfair competition that results in long hours, starvation wages and overproduction. The same principle applies to farm products and to transportation and every other field of organized private industry.
Yet the vulgar political economy of Herr Duehring attempts to explain the new phenomenon, not by means of the new factor of overproduction, but by means of the exceedingly old factor of underconsumption.
The common cause, which, as a matter of fact, is not to be looked for with-in the bounds of the French political horizon, was obvious. The years 1849 and 1850 were years of the greatest material prosperity, and of an overproduction that did not manifest itself until 1851.
"Was it meant by this expression that there had been actually more food, clothing, and other good things produced than the people could use?" "Not at all. The mass of the people were in great need always, and in more bitter need than ever precisely at the times when the business machine was clogged by what they called overproduction.
"'How do you explain it that prices have gone up so? I asked. "'Why, they say it's due to an overproduction o' gold, says he. "'Looks to me like an overproduction of argument, I says. 'The old Earth keeps shellin' out more gold ev'ry year, an' the more she takes out o' her pockets the more I have to take out o' mine.
The opportunities for lucrative trading and the profitableness of overproduction which they made possible became almost immeasurable. Before these discoveries western society was generally agricultural, accompanied by cottage industries and guild trades. It was largely made up of direct contacts and controlled by local interests.
Communications were entered into with Maryland and North Carolina to restrict the planting of tobacco in order to relieve the overproduction, but negotiations failed, giving rise to much bitterness and contention. Similar proposals were made by Virginia from time to time, but the effort was never successful.
By enabling farm cooperatives to cushion the fall in prices of farm products in 1930 and 1931 the Board secured higher prices to the farmer than would have been obtained otherwise, although the benefits of this action were partially defeated by continued world overproduction.
"There is a growing skepticism on the part of biologists as to the extreme fierceness of the struggle for existence and of the consequent rigor of selection." Overproduction and shortage of space and food might sometime be a factor of importance, but has it been so in the past? Has it affected the human race? Darwin proposed the theory of gemmules. Prof.
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