Monday

 







Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed.
PART 9 The Real Economy in the Long Run
Chapter 25 of 36 Production and Growth
Section 18 of 22
…
Things government can promote and strengthen to increase productivity and living standards include
1· saving and investment
2· investment from abroad
3· education
4· health and nutrition
5· property rights and political stability
6· free trade
7· research and development
8· population growth
…
8· Population growth
Social scientists including economists have long debated how population affects a society.
The direct effect of an increasing size population is more producing and consuming of goods.
But a larger population does not always mean a higher standard of living for a society.
The on-going debate over the effects of a growing world population includes these topics:
a· stretching natural resources
b· diluting capital stock
c· promoting technological progress
…
a. Stretching natural resources
Thomas Robert Malthus (1766-1834) is famous for his book An Essay on the Principle of Population As It Affects the Future Improvement of Society.
Malthus predicted ever-increasing population would eventually end society's ability to provide for itself and humankind was doomed to forever live in poverty.
Malthus said, "food is necessary to the existence of man" and "the passion between the sexes will remain nearly in its present state."
He said, "the power of population is infinitely greater than the power in the earth to produce subsistence for man."
Malthus held the only check on population growth was "misery and vice."
He argued charities and governments attempts to alleviate poverty were counterproductive because they only allowed the poor to have more children.
…
Per Figure E, Malthus’ dire predictions were wrong.
World population now is about six times larger than of Malthus’ time but world living standards are on average much higher.
When famines occur in modern times they result from wars or political instability not from inadequate world food production.
Human ingenuity growth has offset the effects of a growing population.
Technology developments including of pesticides, fertilizers, mechanized farm equipment, and new crop varieties have allowed each farmer to feed
ever-increasing numbers of people.
As the world population grows the number of farmers needed to supply them food decreases.
Today less than five percent of the population are farmers in advanced countries.
In Malthus’ time even in the most advanced countries over 90 percent of people were farmers
….
world population increases, number of farmers decreases
sekai no jinkou ga zouka, nouka no kazu ga genshou
… …

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