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Encyclopedia > Overproduction
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In economics, overproduction refers to excess supply of products being sold on the market. Marxism refers to the philosophy and social theory based on Karl Marxs work on one hand, and the political practice based on Marxist theory on the other hand (namely, parts of the First International during Marxs time, communist parties and later states). ... This image has been released into the public domain by the copyright holder, its copyright has expired, or it is ineligible for copyright. ... The Manifesto of the Communist Party (German: ), usually referred to as The Communist Manifesto, was first published on February 21, 1848[]by J. E. Burghard in London, and is one of the worlds most influential political tracts. ... Das Kapital (Capital, in the English translation) is a very lengthy treatise on political economy written by Karl Marx in German. ... Marxs theory of alienation (Entfremdung in German), as expressed in the writings of young Karl Marx, refers to the separation of things that naturally belong together, or to antagonism between things that are properly in harmony. ... Bourgeoisie (RP [], GA []) is a classification used in analysing human societies to describe a class of people who are in the upper or merchant class, whose status or power comes from employment, education, and wealth as opposed to aristocratic origin. ... Class consciousness is a category of Marxist theory, referring to the self-awareness of a social class, its capacity to act in its own rational interests, or measuring the extent to which an individual is conscious of the historical tasks their class (or class allegiance) sets for them. ... In Marxist theory, commodity fetishism is an inauthentic state of social relations, said to arise in complex capitalist market systems, where social relationships are confused with their medium, the commodity. ... Communism is an ideology that seeks to establish a classless, stateless social organization based on common ownership of the means of production. ... Cultural hegemony is a concept coined by Marxist philosopher Antonio Gramsci. ... The term exploitation may carry two distinct meanings: The act of utilizing something for any purpose. ... Marxs theory of human nature occupies an important place in his critique of capitalism, his conception of communism, and his materialist conception of history. Marx has sometimes been held to deny the existence of any human nature, though this view is now generally accepted to be mistaken. ... An ideology is an organized collection of ideas. ... The proletariat (from Latin proles, offspring) is a term used to identify a lower social class; a member of such a class is proletarian. ... Reification (German: Verdinglichung, literally: ver-, over + ding: thing + -lichung: as english, -ify) is the consideration of an abstraction or an object as if it had human or living existence and abilities; at the same time it implies the thingification of social relations. ... Relations of production (German: Produktionsverhaltnisse) is a concept frequently used by Karl Marx in his theory of historical materialism and in Das Kapital. ... Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to social control. ... Note: Marxian is not restricted to Marxian economics, as it includes those inspired by Marxs works who do not identify with Marxism as a political ideology. ... Note: Marxian is not restricted to Marxian economics, as it includes those inspired by Marxs works who do not identify with Marxism as a political ideology. ... Commodity is a term with distinct meanings in both business and in Marxian political economy. ... Labor power (in German: Arbeitskraft, or labor force) is a crucial concept used by Karl Marx in his critique of political economy. ... The law of value is a concept in Karl Marxs critique of political economy. ... Means of production (abbreviated MoP; German: Produktionsmittel), also called means of labour are the materials, tools and other instruments used by workers to make products. ... In the writings of Karl Marx and the Marxist theory of historical materialism, a mode of production (in German: Produktionsweise, meaning the way of producing) is a specific combination of: productive forces: these include human labor-power, tools, equipment, buildings and technologies, materials, and improved land social and technical relations... For the specific theoretical justifications behind the Great Leap Forward and the Five Year Plans, see Theory of Productive Forces. ... Surplus labour is a concept used by Karl Marx in his critique of political economy. ... Surplus value, according to Marxism, is unpaid labour that is extracted from the worker by the capitalist, and serves as the basis for capitalist accumulation. ... In Karl Marxs economics the transformation problem is the problem of finding a general rule to transform the values of commodities (based on labour according to his labour theory of value) into the competitive prices of the marketplace. ... Wage labour is the socioeconomic relationship between a worker and an employer in which the worker sells their labour under a contract (employment), and the employer buys it, often in a labour market. ... Even though anarchist communism and Marxism are two very different political philosophies, there is some similarity between the methodology and ideology of some anarchists and some Marxists, and the history of the two have often been intertwined. ... The capitalist mode of production is a concept in Karl Marx’s critique of political economy. ... Class struggle is class conflict looked at from a Marxist, libertarian socialist, or anarchist perspective. ... The dictatorship of the proletariat is a term employed by Karl Marx in his 1875 Critique of the Gotha Program that refers to a transition period between capitalist and communist society in which the state can be nothing but the revolutionary dictatorship of the proletariat. The term refers to a... Primitive accumulation of capital is a concept introduced by Karl Marx in part 8 of the first volume of Das Kapital (in German: ursprungliche Akkumulation, literally original accumulation or primeval accumulation). Its purpose is to help explain how the capitalist mode of production can come into being. ... A communist revolution is a social revolution inspired by the ideas of Marxism that aims to replace capitalism with communism, normally with socialism (public ownership over the means of production) as an intermediate stage. ... International Socialism redirects here. ... World revolution is a Marxist concept of a violent overthrow of capitalism that would take place in all countries, although not necessarily simultaneously. ... See also Marxian economics Marxist philosophy or Marxist theory designs work in philosophy which is strongly influenced by Karl Marxs materialist approach to theory or which is written by Marxists. ... See also Marxian economics Marxist philosophy or Marxist theory designs work in philosophy which is strongly influenced by Karl Marxs materialist approach to theory or which is written by Marxists. ... Historical materialism is the methodological approach to the study of society, economics and history which was first articulated by Karl Marx (1818-1883), although Marx himself never used the term. ... It has been suggested that Marxist philosophy of nature be merged into this article or section. ... Analytical Marxism refers to a style of thinking about Marxism that was prominent amongst English-speaking philosophers and social scientists during the 1980s. ... For other meanings of autonomism, see autonomism (disambiguation) page Raised fist, stenciled protest symbol of Autonome at the Ernst-Kirchweger-Haus in Vienna, Austria Autonomism refers to a set of left-wing political and social movements and theories close to the socialist movement. ... Marxist feminism is a sub-type of feminist theory which focuses on the dismantling of capitalism as a way to liberate women. ... The term Marxist humanism has as its foundation Marxs conception of the alienation of the labourer as he advances it in his Economic and Philosophic Manuscripts of 1844--an alienation that is born of a capitalist system in which the worker no longer functions as (what Marx terms) a... Structural Marxism was an approach to Marxist philosophy primarily associated with the work of the French philosopher Louis Althusser, although the thought of Lucien Goldmann is sometimes seen as a precursor. ... Western Marxism is a term used to describe a wide variety of Marxist theoreticians based in Western and Central Europe (and more recently North America), in contrast with philosophy in the Soviet Union. ... ‘Young Marx’ is one half of the concept in Marxology that Karl Marx’s intellectual development can be broken into two board categories, the other being ‘Mature Marx’. There is disagreement though as to when Marx thought began to mature, Lenin claimed Marxs first mature work as “The Poverty... Karl Heinrich Marx (May 5, 1818, Trier, Germany – March 14, 1883, London) was a German philosopher, political economist, and revolutionary. ... Friedrich Engels (November 28, 1820, Wuppertal – August 5, 1895, London), a 19th-century German political philosopher, developed communist theory alongside his better-known collaborator, Karl Marx, co-authoring The Communist Manifesto (1848). ... Karl Kautsky (October 18, 1854 - October 17, 1938) was a leading theoretician of social democracy. ... G. V. Plekhanov Georgi Valentinovich Plekhanov (Георгий Валентинович Плеханов) (December 11, 1856 – May 30, 1918; Old Style: November 29, 1856 – May 17, 1918) was a Russian revolutionary and a Marxist theoretician. ... Lenin redirects here. ... This article is becoming very long. ... Rosa Luxemburg Rosa Luxemburg (March 5, 1870 or 1871 – January 15, 1919, in Polish Róża Luksemburg) was a Jewish Polish-born Marxist political theorist, socialist philosopher, and revolutionary. ... “Mao” redirects here. ... Georg Lukács (April 13, 1885 – June 4, 1971) was a Hungarian Marxist philosopher and literary critic in the tradition of Western Marxism. ... Antonio Gramsci (IPA: ) (January 22, 1891 – April 27, 1937) was an Italian writer, politician and political theorist. ... Karl Korsch (August 15, 1886 - October 21, 1961) was a German Marxist theorist. ... Max Horkheimer (front left), Theodor Adorno (front right), and Jürgen Habermas in the background, right, in 1965 at Heidelberg The Frankfurt School is a school of neo-Marxist social theory (which is more akin to anarchism than communism), social research, and philosophy. ... Louis Pierre Althusser (Pronunciation: altuË¡seʁ) (October 16, 1918 - October 23, 1990) was a Marxist philosopher. ... Ernesto Guevara de la Serna (June 14,[1] 1928 – October 9, 1967), commonly known as Che Guevara or El Che, was an Argentine-born Marxist revolutionary, medic, political figure, and leader of Cuban and internationalist guerrillas. ... This article is on criticisms of Marxism, a branch of socialism. ... Face-to-face trading interactions on the New York Stock Exchange trading floor. ... Look up Market in Wiktionary, the free dictionary. ...


Explanation

 effective demand or aggregate demand, so that there is an unplanned accumulation of inventories. It corresponds to unemployed labor and unemployed fixed capital. 

Where a product is produced to a specification that exceeds the specification required by the customer. Effective demand (in macroeconomics often seen as synonymous with aggregate demand), refers to the very simple economic idea that says that its not enough to want something such as food or luxuries. ... In economics, aggregate demand is the total demand for goods and services in the economy (Y) during a specific time period. ... Inventory is a list of goods and materials held available in stock by a business. ... An 1837 political cartoon about unemployment in the United States. ... Fixed capital is a concept in economics and accounting, first theoretically analysed in some depth by the economist David Ricardo. ...


Overproduction is one of the "7 Wastes" identified by Taiichi Ohno of Toyota.


Say's Law

The existence of general overproduction, if confirmed, would contradict Say's Law. It is central to the Marxian theory of crisis and to Keynesian economics. Overproduction differs from underconsumption, in which the excess supply results only from low consumer demand. Overproduction can also arise due to low fixed investment, low net exports, or contractionary fiscal or monetary policy. In economics, Say’s Law or Say’s Law of Markets is a principle attributed to French businessman and economist Jean-Baptiste Say (1767-1832) stating that there can be no demand without supply. ... Marxism refers to the philosophy and social theory based on Karl Marxs work on one hand, and the political practice based on Marxist theory on the other hand (namely, parts of the First International during Marxs time, communist parties and later states). ... In economics, crisis is an old term in business cycle theory, referring to the sharp transition to a recession. ... This article includes a list of works cited or a list of external links, but its sources remain unclear because it lacks in-text citations. ... In underconsumption theory, recessions and stagnation arise due to inadequate consumer demand relative to the amount produced. ... Fixed investment in economics refers to an increase in the amounts of real capital goods (real means of production) used in production or to the replacement of depreciated capital goods. ... FISCAL ECONOMICS Fiscal policy is the economic term that defines the set of principles and decisions of a government in setting the level of public expenditure and how that expenditure is funded. ... Monetary policy is the process by which the government, central bank, or monetary authority manages the money supply to achieve specific goals—such as constraining inflation or deflation, maintaining an exchange rate, achieving full employment or economic growth. ...


  Results from FactBites:
 
Overproduction - Wikipedia, the free encyclopedia (146 words)
In economics, overproduction refers to more than excess supply in a few markets but to a "general glut" of products being sold on the market for an economic system as a whole.
Overproduction differs from underconsumption, in which the excess supply results only from low consumer demand.
Overproduction can also arise due to low fixed investment, low net exports, or contractionary fiscal or monetary policy.
  More results at FactBites »

 
 

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