Tuesday, July 31, 2012

Class XI, Principles of Economics, "Malthusian Theory of Population"

Malthusian Theory of Population

The Malthusian theory of population was first propounded in 1798 by a British economist Robert Malthusian. . In his own words the theory can be stated as,

“By nature human food increases in a slow arithmetical ratio: man himself increases in a quick ratio unless wants and vice stop him”

Malthus based his theory on the biological fact that every living organism tends to multiply to an unimaginable extant while on the other hand production of food increases with less than proportionate change. It is subject to law of diminishing returns. According to Malthus population tends to outstrip food supply.

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