The overproduction/underconsumption problem isn’t relevant in today’s economy because the middle class has grown tremendously in past decades. If this wasn’t the case then it would be a problem (just like in the 1800s). If companies are “overproducing” then you either expand into new markets if there’s demand for your product. If there’s no demand for your product, then you halt production. There’s no such thing as overproduction because it clearly can’t go on forever.
Overproduction occurs naturally as the market fluctuates. Idk what you mean by “halt production” but have you never seen a grocery store throw out expired food? That is overproduction and if this happens on a large enough scale without prices accounting for it ( if they even can) than inflation occurs.
I appreciate your separation of Marx’s critique of capitalism and communism in the beginning of the video. One might come about communism from the critique of capitalism but communism isn’t strictly the critique of capitalism. I do have to say you were very reductive in a lot of this video and although you are trying to teach the basics your explanations tend to lean away from the fact that these things Marx claims the capitalists do are very natural consequences of the capitalist mode of production.
Actually back in Marx's time period the wealthy were the the rich nobles/clergy men from feudal times, and the middle class were the Bourgeois private business owners.
Duh why would you not want to improve??? Of course you want more production and of course you want to thrive. No I don’t agree with reducing wages and upping prices, but I do agree with wanting to expand
Evolution Economy A free open market that evolves thru time is the best working model. Martxism, Socialism or Communism didnt work they tried it and failed. Current world ecocnomy is gobalised its too complex and modern for Martx.
Yet the underlying tension between employer and employee remains. I'm not sure it is too complex for a Marxist to explain if you are not a capitalist propagandist.
A lot of Marx's theory seems to hinge on the "Overproduction/under-consumption" mechanism, but this is cancelled out by capitalism because if there isn't a demand for the goods then the business owners will not want to make a loss by trying to supply it. Overproduction can be a small issue but it is more of an issue for the businesses than anybody else. This theory reeks of somebody who doesn't know how business works. Oh wait...
