malthus has an anti-breeding kink Flashcards
William Godwin & Archdeacon William Paley
an increasing population was a good sign
malthus’ population theory
describes the population exploding –> more population would force farmers to farm less fertile soils (“diminishing returns”) –> output could not keep up with population
what did malthus say about population growth
population tends to double every twenty-five years –> unchecked
- population grows at a geometric ratio
- food increases at merely an arithmetic ratio
3 positive checks (that hold back geometric population growth)
- war
- plague
- famine
2 preventative checks (that hold back geometric population growth)
- birth control
- celibacy
poor laws
british laws that ensured that the poor were housed in workhouses, clothed and fed
why was malthus a WRONG BUM LE TANG
only right up until the 1800s
- didn’t distinguish between immigrants and natural-born Americans
- missed advancements in medicine, agricultural revolution, start of an Industrial Revolution
- output doubled in england
- a higher standard of living in his time did not lead to a birth spiral
4 stages of “demographic transition”
- preindustrial societies → high death rates balance high birthrates
- early industrial development → better health lowers death rates
- urbanization and education persuade many to have fewer children
- mature society → successful birth control → population stabilizes
why is the malthusian trap more relevant in less developed nations
- better health services reduce death rates
- birthrates continue at high levels
- educational campaigns, subsidized birth control, and economic development → birthrates declined in last 20 years
Ricardo’s Law of Comparative Advantage
producer with the lowest opportunity cost
Corn Laws
tariffs/trade restrictions on imported food and corn in the UK (1815-1846)
why did ricardo became enemy of upper class
“interest of the landlords is always opposed to the interest of every other class in the community”
abraham lincoln
was “protectionist” but didn’t really know shi lldweujlqwihc [ow
criticism of ricardian example of two countries with different natural resources
Nobel laureate Paul Krugman → most of the increase in trade between countries with similar incomes and resources
josh nash
game theory –> prisoner’s dilemma
disagreements w/ smith
smith –> constant returns to agriculture, increasing returns to industry
ricardo –> decreasing returns to agriculture, constant returns to industry
what did ricardo say accepting Malthus’s population principles
- increasing population leads to a higher demand for food
- extending farming to less fertile lands
- higher costs in farming
- higher prices for food
- paying workers more
- lower profits for entrepreneurs
- higher payments to those who own the best lands
say’s law
“supply creates its own demand” –> savings creates investment
rebuttals against corn laws
- high domestic grain output
- high wages
- grain too important of commodity to be left to foreign guys
- glazing ricardo who was a landlord