»That we are in the midst of crisis is now well understood … Homes have been lost; jobs shed; businesses shuttered … Our workers are no less productive than when this crisis began. Our minds are no less inventive, our goods and services no less needed than they were last week or last month or last year. Our capacity remains undiminished.«
Strange crisis. Apparently there is too much of everything: too many factories, too many homes, too many consumer articles. The economic supply in a country is too large for demand; there is not to little, but too much capacity. What to do with all the useful objects that are being produced? Employees are fired and thus have no more money because too much was produced. Useful objects are stockpiled and functioning production sites are closed because of low demand and the same time widespread poverty.
How can overproduction become a problem at all? If too much has been produced you could simply let it lie or dispose of it. It would only be annoying if too much work had been done instead of dedicating oneself to the well-earned free time earlier.