Refer the video lectureo, nce an economist Malthus has predicted that production of food will slow down because of diminishing marginal product of labour, without increasing capital.
Refer the video lectureo, nce an economist Malthus has predicted that production of food will slow down because of diminishing marginal product of labour, without increasing capital. So, continuous increase in demand due to increase in world population, some day may result in mass starvation. Now world population has increased more than 800% and there is no mass starvation as predicted.Discuss what did Malthus get wrong?
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