| Thomas Robert Malthus | a famous 18th-century British economist known
for the population growth philosophies outlined in his 1798 book "An Essay on the Principle of Population." |
| Malthusian
growth model | exponential formula used
to forecast population growth, |
| ECONOMIST & PHILOSOPHE | - Known for his Population Growth philosophies
- Noted for the Malthusian Growth Model - Founder for the Statistical Society of London |
| The subsistence theory of wages | advanced by David Ricardo and
other classical economists, was based on the population theory of Thomas
Malthus. It held that the market price of labour would always tend toward the minimum required for subsistence. |
| The wage-fund theory | wages depended on the relative amounts of
capital available for the payment of workers and the size of the labour force. Wages increase only with an increase in capital or a decrease in the number of workers |
| Malthus penned "An
Inquiry into the Nature and Progress of Rent" (1815) and "Principles of Political Economy" (1820), | in which he argued that the available farmland was
insufficient to feed the increasing world population. |
| Charles Darwin’s Natural Selection | Natural selection is the process through which populations of living organisms adapt and change. Individuals in a population are naturally variable, meaning that they are all different in some ways. This variation means that some individuals have traits better suited to the
environment |
| To maximize wealth | balance “the power to produce and the
will to consume.” |
| RELEVANCE OF THE MATHUSIAN Theory for Economic Development T | - First, there is a positive effect of the standard of living on the growth rate of population, resulting either from a purely biological effect of consumption on birth and death rates, or a behavioral response on the part of potential parents to their economic circumstances.
- Second, because of the existence of some fixed resource such as land (LIMITED), there is a negative feedback from the size of population to the standard of living. |
| Key takeaways about the Malthusian T | 1. Population and Food Supply
2. Population Control |
| A. Positive Checks or Natural Check | He believed that natural forces would correct the imbalance between food supply and population growth in the form of natural disasters such as
floods and earthquakes and human-made actions such as wars and fam |
| B. Preventative Check | To correct the imbalance, Malthus also suggested using preventative
measures to control the growth of the population. These measures include
family planning, late marriages, and celibacy. |
| Criticisms of the Malthusian Theory of Popula | 1. Population Growth
2. Food Production
3. Global Trade
4. Calculations |
