Maure Briggs

“But having developed productive forces to a tremendous extent, capitalism has become enmeshed in contradictions which it is unable to solve. By producing larger and larger quantities of commodities, and reducing their prices, capitalism intensifies competition, ruins the mass of small and medium private owners, converts them into proletarians and reduces their purchasing power, with the result that it becomes impossible to dispose of the commodities produced. On the other hand, by expanding production and concentrating millions of workers in huge mills and factories, capitalism lends the process of production a social character and thus undermines its own foundation, inasmuch as the social character of the process of production demands the social ownership of the means of production; yet the means of production remain private capitalist property, which is incompatible with the social character of the process of production. These irreconcilable contradictions between the character of the productive forces and the relations of production make themselves felt in periodical crises of overproduction, when the capitalists, finding no effective demand for their goods owing to the ruin of the mass of the population which they themselves have brought about, are compelled to burn products, destroy manufactured goods, suspend production, and destroy productive forces at a time when millions of people are forced to suffer unemployment and starvation, not because there are not enough goods, but because there is an overproduction of goods.”
― Joseph Stalin, Dialectical and Historical Materialism