1996 Porsche 911 911 911 GT2 (David Murry) e97447

1996 Porsche 911 911 911 GT2 (David Murry) e97447
Cuba Journal

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A Malthusian economy.

A Malthusian economy.

Figure 2.16 A Malthusian economy.

Left-hand diagram: How wages depend on the population level

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Linking the two diagrams

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A lower population

Suppose the economy is at B, with a higher wage and lower population. Point B′, on the right, shows that the population will be rising.

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The economy returns to equilibrium

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1996 Porsche 911 911 911 GT2 (David Murry) e974471996 Porsche 911 911 911 GT2 (David Murry) e974471996 Porsche 911 911 911 GT2 (David Murry) e97447