Production and Population and the Advantages from Communist and Socialist Models
1. In their respective essays on Population and Political Economy, Malthus and Ricardo consider fundamental economic resources in very different ways. How are Malthus’ views on population related to the ideas of Ricardo or Adam Smith? How might Mathus' views help us to better manage our resources? In what ways (if any) have these texts proven to be short-sighted or incorrect? In what ways are Malthus' and Ricardo's arguments irrefutable?
Thomas Robert Malthus' Essay on the Principle of Population. The assigned portion is chapters 1, 2 & 4.
David Ricardo's Principles of Political Economy and Taxation. We'll read the first section from the first chapter, On Value.
2. John Stuart Mill’s Principles of Political Economy examines the distribution of wealth in different types of economies. What advantages, according to Mill, might come from Communist or Socialist models? How can private property and communal resources effectively coexist? How can governments effectively intervene in their economies? Do you expect that Mill would view capitalist and socialist models in the same light if he were writing today? Why or why not?
John Stuart Mills' Principles of Political Economy. We'll read a couple selections from this five volume work: Book II, Chapter 1 and Book V, Chapter 11, Sections 1-6. Please note that the following PDF includes the entirety of Book V, Chapter 11. The assigned portion ends in the middle of page 950.
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Question #1
Malthus’s view on population is related to the ideas of Ricardo or Adam Smith in that they all recognize the finite nature of agricultural production. For instance, Malthus posits that subsistence expands only in arithmetic while population expands in a geometrical ratio if left unchecked. He, therefore, concludes that, since man requires sustenance and is driven by the natural need to procreate, the imbalance between the two powers of production in the earth and population inevitably results in population pressures that are harsher on the lower classes. On the other hand, the argument by Ricardo, and by extension Smith, also share the same premise but take a more economic perspective. For instance, Ricardo theorizes that value is determined by the amount of labor required in production, where a growing population puts more pressure on agriculture so that more labor is needed in production under the most unfavorable circumstances (Ricardo, 1821). This rise in production costs resulting from declining land productivity (the consequence of a growing population) is reflected in higher food prices and rent, which affect the lower classes more than any other group.
Malthus’ views may help us better manage our resources by pointing out the different ratios between population and food increase. Since the earth cannot sustain an unchecked population, we can manage our resources better by controlling population growth and using just as much food supply as necessary. It must be ensured that growth in the human population is equal to or below food production (Malthus, 1798). Some of the ways these texts have proven to be short-sighted or incorrect include the declining population rates in western countries and the emergen...