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Essay / Research Paper Abstract
10 pages in length. The writer discusses how the concept of capitalism speaks well to the opposing views of Malthus and Adam Smith, inasmuch as Smith supported the notion that capitalism was socially, politically and economically beneficial for the greater good, leaving little consideration for the remaining minority few. Indeed, adopting such a position has a great deal to do with the idea of sacrificing a lesser being for the better of the superior being. Bibliography lists 5 sources.
Page Count:
10 pages (~225 words per page)
File: LM1_TLCMlths.rtf
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Unformatted sample text from the term paper:
the Principle of Population. At the core of Malthus economic philosophy is the contention that population is inclined to increase more rapidly than the supply of food that such
growth inevitably necessitates. "Whenever a relative gain occurs in food production over population growth, a higher rate of population increase is stimulated; on the other hand, if population grows
much faster than food production, the growth is kept in checked by famine, disease, and war" (Malthus PG). This particular economic stance was motivated by the real world issue
that reflected the sharp increase in food supplies as a direct result of both the French Revolutionary and Napoleonic era. "Population, when unchecked, increases in a geometrical ratio.
Subsistence only increases in an arithmetical ratio. A slight acquaintance with numbers will show the immensity of the first power compared to the second" (Malthus PG). Malthus fit into
the general history of economic thought by concluding that such drastic propensity for growth could only lead to extreme distress, a belief that went against prevailing optimistic beliefs of the
early nineteenth century. "The number of labourers also being above the proportion of work in the market, the price of labor must tend towards a decrease; while the price
of provisions would at the same time tend to rise" (Malthus PG). People of that time disagreed with Malthus - whose writing served to refute John Maynard Keynes economic
philosophies - by asserting that societal resourcefulness would ultimately prove plenty strong enough for prosperous economic progress. The concept of capitalism speaks well
to the opposing views of Malthus and Adam Smith, inasmuch as Smith supported the notion that capitalism was socially, politically and economically beneficial for the greater good, leaving little consideration
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