The Principle of Population for the 21st Century: The Never Coming Stationary State
One of the most enchanting areas in economics is the forward thinking. While Malthus and Ricardo agreed on the gloomy vision of the future, Mill described the wider stationary state and foresaw it in a more optimistic way. Space sciences and improvements in our technology provided us with the solution decades ago, although economics did not notice this possible solution of the classical stationary state until now. This article incorporates this knowledge into economics. Calories integrate the supply of means of production and the demand for means of consumption in one market. The stationary state could come only if the demand for means of subsistence grows faster than the supply of means of production. Increasing scarcity of free calories exceeding the minimal required volume of it preventing the malnutrition and death will push the calorie price up while economy will move towards the stationary state. But where to take the land when the very last piece of it - even the deserts - will be already cultivated? Increasing scarcity of land opens possibility for firms to make profit from producing land. Thus, the classical stationary state is only an illusion.
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- Malthus, Thomas Robert, 1798. "An Essay on the Principle of Population," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number malthus1798.
- Jevons, William Stanley, 1871. "The Theory of Political Economy," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number jevons1871.
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- Johnson, D. Gale, 2002. "The declining importance of natural resources: lessons from agricultural land," Resource and Energy Economics, Elsevier, vol. 24(1-2), pages 157-171, February.
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