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"So you take the impact on the world economies that Trump had and that overproduction; it has meant demand is low, supply is high and prices have come down," said Mr Gormley.

Laurie Beyranevand, the director of the Center for Agriculture and Food Systems at Vermont Law and Graduate School in the U.S., highlights the strain on natural resources caused by overproduction.

As elite overproduction worsens, dissatisfied elite aspirants form “counter-elites” that seek to overturn the system.

As a result, students ate far more of the meals on offer, reducing food overproduction at the school by 20%.

Only its president and treasurer knew that the cordage trust was hobbled by overproduction, a lack of credit and the evaporation of its working capital.