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Thomas Robert Malthus FRS (/ ˈ m æ l θ ə s /; 13/14 February 1766 – 29 December 1834) [1] was an English economist, cleric, and scholar influential in the fields of political economy and demography.
Thomas Robert Malthus, after whom Malthusianism is named. Malthusianism is a theory that population growth is potentially exponential, according to the Malthusian growth model, while the growth of the food supply or other resources is linear, which eventually reduces living standards to the point of triggering a population decline.
The book An Essay on the Principle of Population was first published anonymously in 1798, [1] but the author was soon identified as Thomas Robert Malthus.The book warned of future difficulties, on an interpretation of the population increasing in geometric progression (so as to double every 25 years) [2] while food production increased in an arithmetic progression, which would leave a ...
Its main thinkers are held to be Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill. These economists produced a theory of market economies as largely self-regulating systems, governed by natural laws of production and exchange (famously captured by Adam Smith's metaphor of the invisible hand).
Pity the philosopher. Underpaid and underappreciated, professional thinkers are doomed to a terrible dilemma: in the best case, their ideas are likely to be ignored. In the worst case, they will ...
The Industrial Revolution was the first period in history during which there was a simultaneous increase in both population and per capita income. [145] According to Robert Hughes in The Fatal Shore , the population of England and Wales, which had remained steady at six million from 1700 to 1740, rose dramatically after 1740.
In the Middle Ages, Thomas Aquinas argued that it was a moral obligation of businesses to sell goods at a just price. [1] In the Western world, economics was not a separate discipline, but part of philosophy until the 18th–19th century Industrial Revolution and the 19th century Great Divergence, which accelerated economic growth. [2]
[8] However, Keynes also critiques Thomas Malthus. He faults Malthus' work for being "unable to explain clearly (apart from an appeal to the facts of common observation) how and why effective demand could be deficient or excessive." [8] John Stuart Mill, a nineteenth-century British economist, also criticizes Malthus' Principles of Political ...