Overproduction

Thanks for the responses. It looks like there is not a definitive answer for veracity of overproduction in the various types of economies, but insightful answers, none the less. Some suggest that in a Free Market, overproduction exists, but appears irrelevant because markets clear. Others suggests, that there is no such thing or has no meaning as overproduction in a Free Market, for a similar reasons.

On the Socialism end, most cite the calculation problem, that central planners can’t calculate, which leads to under/over production.

As for the mixed economy, I would conjecture that the Socialist argument of the calculation problem would stand. Furthermore, altering interest rates rather than letting it float on the free market leads to the overproduction.

I would agree with that assessment.

Well, socialists may ‘overproduce’ some things and ‘underproduce’ others, but, overall, the output of socialist economies is way below that of free-market ones. I think it’s fair to characterize socialism as a system leading to chronic underproduction.