Malthus essay on principle of population summary

The influence of Malthus' theories was substantial. Among others, he developed a theory of demand-supply mismatches which he called "gluts." Considered ridiculous at the time, as it violated Say 's Law which basically stated that supply creates its own demand, his theory was a precursor to later theories about the Great Depression, and to the works of admirer and economist John Maynard Keynes . Malthus has also been admired by, and has influenced, a number of other notable economists, including David Ricardo with whom he maintained a long lasting friendship but opposite thinking on economics.

Malthus' most well known work 'An Essay on the Principle of Population' was published in 1798, although he was the author of many pamphlets and other longer tracts including 'An Inquiry into the Nature and Progress of Rent' (1815) and 'Principles of Political Economy' (1820). The main tenets of his argument were radically opposed to current thinking at the time. He argued that increases in population would eventually diminish the ability of the world to feed itself and based this conclusion on the thesis that populations expand in such a way as to overtake the development of sufficient land for crops. Associated with Darwin, whose theory of natural selection was influenced by Malthus' analysis of population growth, Malthus was often misinterpreted, but his views became popular again in the 20th century with the advent of Keynesian economics.

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Malthus essay on principle of population summary

malthus essay on principle of population summary

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