[Marxism] Notes on the current crisis of capitalism

["Charles Brown" <charlesb@xxxxxxxxxxxxxxxxxxxxx>]

In response to my post on crises of overproduction Greg M. wrote,



"... but I do not understand how total production necessarily exceeds
total
demand. It seems that capitalists must make some decisions in terms of
how
much to produce based on some kind of analysis of market share. They
don't
necessarily overproduce, but I understand how increased economy of
scale to
undercut competition can in fact lead to overproduction. I just don't
understand how this is necessarily the case."

^^^^^
CB: Think about the analysis of the commodity , the cell of capitalist
production, in Vol. I of _Capital_. Because the capitalist only pays the
worker for a fraction of the value produced,  the mass of demand which
is workers buying as consumers is always insufficient to buy all that
they produce. The workers are never paid enough to buy all that the
workers produce.  So, mass production is always "over" in relation to
mass demand


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