Final answer:
The condition described is psoriasis, a chronic skin disease causing thick, scaly, silvery plaques and can include psoriatic arthritis.
Step-by-step explanation:
The chronic inflammatory skin condition that produces an excess of thick, scaly, silvery plaques surrounded by a red area is known as psoriasis. Psoriasis is a result of cytokines causing an accelerated cell turnover cycle where skin cells rise to the surface in just a few days rather than a month, leading to the buildup of thick patches.
This skin disease can affect various parts of the body, including elbows, knees, scalp, back, face, palms, and feet. Additionally, some individuals with psoriasis can develop psoriatic arthritis, which is inflammation of the joints.