The following points highlight the top three theories of population. The Malthusian Theory of Population 2. The Optimum Theory of Population 3.
Malthus was the anticipator of Keynes and was regarded as the first Cambridge economist. He brought out the factors which accelerate and retard the economic growth.
He pointed out the contribution of technological progress, equitable distribution of wealth, internal and external trade, public work programme, good administration, hard work and balanced growth towards economic growth. Despite all this, Malthus theory has certain weaknesses: Negativity View of Capital Accumulation: Capital accumulation leads inherently to secular stagnation is not correct.
In reality, capital accumulation does not lead to a reduction in demand for consumer goods and fall in profits. When capital accumulation increases, the share of wages, profits and aggregate national income increases and so does the demand for consumer goods.
One Sided Saving Base: Like Smith, Malthus has also one side base of savings.
He believed that it is the only landlords who save. But this is an absurd because the main source of savings in society is the income earners and not profit earners.
Commodities do not Exchange For Commodities: In fact, labour is not correct measure of commodities. In fact, commodities are measured by real tangible prices and not by labour. Secular Stagnation not Inherent in Capital Accumulation: For Malthus, there is possibility of permanence under consumption of all commodities.
But the fact is that the under consumption is not permanent phenomenon. Therefore, secular stagnation is not inherent process of capital accumulation. Unproductive Consumers Retard Progress: He suggests that the unproductive consumer tries to overcome under consumption and increase effective demand.
This remedy tantamount to giving doles to workers and deliberately supporting idle persons. Such a measure slows down the rate of capital accumulation.An Essay on the Principle of Population An Essay on the Principle of Population, as it population, that the vices and moral weakness of man can never be wholly eradicated - Perfectibility, in the sense in which Mr Godwin The theory of mind which he.
viii. Malthusian Theory of Population: Explained with its Criticism. Article Shared by. ADVERTISEMENTS: The most well-known theory of population is the Malthusian theory.
Thomas Robert Malthus wrote his essay on “Principle of Population” in and modified some of his conclusions in the next edition in The Malthusian model of population and economic growth has two key components.
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.
Malthus was correct- rising human population leads to a greater demand for resources, leading to greater suffering for those who do not have access to such resources Weaknesses: Malthus did not take into account the major role that technology or birth control would play in modern society.
THOMAS MALTHUS Annabel Sanz published "An Essay on the Principle of Population--> argued that in the future, population growth would be guided by 2 postulates and 1 assumption Weaknesses: Malthus did not take into account the major role that technology or birth control would play in modern society.
As a result of . Thomas Robert Malthus, very popularly known as Malthus, was a professor of History and Political Economy at Haileybury College of the East Indian Company.
He was a philosopher of 19th century. He lived his life from to AD. After writing an essay on the Principle of Population in AD.