The periodic over-production and subsequent depression are thus closely related to machinery.

A big opportunity is constantly tempting one of them to undersell; new firms are constantly springing up with new machinery, willing to trade upon the artificially raised prices, by under-selling so as to secure a business; over-production and a glut of goods tempts weaker firms to "cut rates," and this breaks down the compact.

That dusty tableevidently the rubbish-heap of the roomwas Henry's first object-lesson in the half tragical, half farcical, over-production of modern literature.

He gradually created a small public who read eagerly everything that came from his pen, despite his economy of material (even of ideas), and despite the repetition to which a natural tendency was increased by compulsory over-production.

These humble, old-fashioned illustrations occur to me as I apply myself to the consideration of the question provoked by the lightning over-production of modern fiction and modern literature generally: the question of the flourishing longevity of the fiction of the past as compared with the swift oblivion which seems almost invariably to over-take the much-advertised "masterpieces" of the present.

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.

The argument against the possibility of general over-production is quite conclusive, so far as it applies to the doctrine that a country may accumulate capital too fast; that produce in general may, by increasing faster than the demand for it, reduce all producers to distress.

This is the truth which the deniers of general over-production have seized and enforced; nor is it pretended that anything has been added to it, or subtracted from it, in the present disquisition.

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.

Nearly all of these belong to the general group of "glut" theories, of which genus there are two species, under-consumption and over-production theories.

The over-production theorist seeing that in a crisis warehouses are filled with goods that cannot be disposed of for what they cost (or at best, not so as to give a profit), and that factories are shut down and men are out of employment for lack of demand, declares that productive power has grown too great.

In both over-production and under-consumption theories, the inequality of demand and supply is looked upon as a general one.

The monetary theories of crises are a bit nearer to the truth than are those of the over-production type, for the crisis is always connected with prices and credit.

As a young manand it is to his earlier years that the bulk of the eclogues must be attributedSpagnuoli was noted for the elegance of his Latin verse; but his facility led him into over-production, and Tiraboschi reports his later writings as absolutely unreadable.