"In dyspepsia the patient suffered from inability to assimilate food.
With abundance of dainties at hand he wasted away from the lack of power
to absorb nutriment. Although unable to eat enough to support life, he
was constantly suffering the pangs of indigestion, and while actually
starving for want of nourishment, was tormented by the sensation of an
overloaded stomach. Now, the economic condition of a community under the
profit system afforded a striking analogy to the plight of such a
dyspeptic. The masses of the people were always in bitter need of all
things, and were abundantly able by their industry to provide for all
their needs, but the profit system would not permit them to consume even
what they produced, much less produce what they could. No sooner did they
take the first edge off of their appetite than the commercial system was
seized with the pangs of acute indigestion and all the symptoms of an
overloaded system, which nothing but a course of starvation would
relieve, after which the experience would be repeated with the same
result, and so on indefinitely."
"Can you explain why such an extraordinary misnomer as overproduction,
should be applied to a situation that would better be described as
famine; why a condition should be said to result from glut when it was
obviously the consequence of enforced abstinence? Surely, the mistake was
equivalent to diagnosing a case of starvation as one of gluttony."
"It was because the economists and the learned classes, who alone had a
voice, regarded the economic question entirely from the side of the
capitalists and ignored the interest of the people. From the point of
view of the capitalist it was a case of overproduction when he had
charged profits on products which took them beyond the power of the
people to buy, and so the economist writing in his interest called it.
From the point of view of the capitalist, and consequently of the
economist, the only question was the condition of the market, not of the
people. They did not concern themselves whether the people were famished
or glutted; the only question was the condition of the market. Their
maxim that demand governed supply, and supply would always meet demand,
referred in no way to the demand representing human need, but wholly to
an artificial thing called the market, itself the product of the profit
system."
"What was the market?"
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