Les longs développements que TORRENS consacre à la question de l’offre et de la demande (1) constituent un exemple très clair de l’incompatibilité qui existe entre la théorie classique et la thèse de la surproduction générale au sens habituel de ce terme.

L’auteur soutient successivement :

1) « No conceivable increase of production can lead to an overstocking of the market, but, on the contrary, every addition which can be made to the supply of commodities, will immediately and necessarily occasion an increase in the effectual demand for them (‖). The only limits to the increase of effectual demand will be the limits which are set to increased production, by the scarcity of fertile land, or by a rate of wages so high as to deprive the capitalist of that minimum rate of profit which is necessary to induce him to continue his advances » (pp. 370-371).

2) « From the foregoing illustrations it will be apparent, that a glut of a particular commodity may occasion a general stagnation, and lead to a suspension of production, not merely of the commodity which first exists in excess, but of all the other commodities brought to market » (p. 414).

L’examen critique de l’exposé de TORRENS révèle que les hypothèses sur lesquelles l’auteur établit la seconde proposition sont incompatibles avec celles nécessaires à la première.