Malthus’ Theory of Population Essay - Your Term Papers
An Essay on the Principle of Population by Thomas Malthus
Malthus's own criticism of Ricardo's 1815 essay led them into a debate on thequestion of "value". Malthus supported Smith's old"labor-commanded" theory of value, whereas Ricardo favored the"labor-embodied" version. The outcome of the discussion was 's in 1817, which set down the doctrine of the on value, distribution and production, incorporating at least two ofMalthus's own contributions: the"natural wage" version of Malthus's population theory and an expandedversion of Malthus's theory of rent.
Thomas Malthus (1798) An Essay on the Principle of Population
Malthus was an 18th century English economist and demographer from Wescott, Surrey, who became famous for his theory on population. According to Malthus in An Essay on the Principle of Population, while population typically grows exponentially (2, 4, 8, 16…), food supply only increases arithmetically (2, 4, 6, 8, 10…), therefore creating the conditions for food shortages in the future. He advocated, to avoid this, behaviour leading to a reduction in the birth rate. He was also concerned that population growth would increase the supply of labour and thus drive down wage rates.