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Economic Development - Essay Example

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The author of this essay "Economic Development" casts light on the methods of economic development. Admittedly, economic development refers to the continuation of intensive actions undertaken by the policymakers and social institutions…
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Economic Development
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Economic Development

Download file to see previous pages... Population growth is presently considered as a vital event in relation to economic development. The aspect is often regarded as a major determinant of the pace of development witnessed within an economy or a specific region. Based on a similar perspective, the article named “Falling Fertility” emphasized on reviewing the study conducted by Thomas Malthus during the late 1790s signifying population to be a vital event in the economic development process. As mentioned in the article, it was predicted by Thomas Malthus during 1798 that the growth rate of the population might outdo the food supply of the world in the upcoming era. However, the article states that the predictions made by the author were termed as undependable.Furthermore, the article states the fact that the author connoted that with the rapid growth in the process of industrialization there was fall in the rate of fertility in the then ‘developing countries’ such as France, Europe, America, and Britain. According to Malthus (1998), it was observed that when people became prosperous with the virtues of industrialization, the families became smaller in terms of the total number of members. On the flipside, Thomas Malthus also noted that when families reduced, people became wealthier. Taking the inspiration from Thomas Malthus’ study, a similar scenario has been depicted in the article published through ‘The Economist’ replicating the aspect that it is with the increasing rate of industrialization that families tend to shrink. ...Download file to see next pagesRead More
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