Thomas Robert Malthus

Thomas Robert Malthus (1766 – 1834)

• Born in 1766 in England
• Field – Demography, Macro Economics

Works

• • An Essalist-style-type: none;”>y on the Principal of Population (1798)
  • 1800: The percent high price of provisions.
  • 1814: Observations on the effect of the Corn Laws.
  • 1815: The Policy of Restricting the importation of gain.
  • The Principal of Political Economy (1820) An Essay on the principle of population (b/w) 1798 & 1826 he published 6 editions of this)
  • 1823: The measure of value stated and illustrated

Main Theories and Ideas

• • The Theory of Population
  • The Theory of Market Gluts (Malthusian Theory of Economic Crisis), Theory of Gluts or Overproduction or Under Consumption
  • The Theory of Economic Development: economic Development can realize by greater production and better distribution of Wealth.
  • Theory of Rent: rent as a surplus due to the bounty of nature.
  • Value: as the power of purchasing commodities
  • Value of Money: inverse relationship between the value of money and the money price of the commodities.
  • Wages: as the remuneration to the labour for his exertions.