Ricardian Rent Theory

does not accrue to the marginal land (that which is jus able to meet its production expenses) and is the differential surplus of a land over the marginal land.
Along with differences in fertility, differential surplus of one land over the other (rent) is also seen in its situational advantage. For instance, one land may be nearer than the other to market or water sources, thus giving it a situational advantage.
According to Ricardo, rent is determined by price and is not a price determinant.
The Ricardian Rent theory has the following implications:
1. Cause of Rent: As opposed to Adam Smith, it was not the bounty of nature but the niggardliness of nature resulting in the differential advantage of land that resulted in rent.
2. Conflict of Interest:

His work shows the harmful effects of the ever growing population and suggests measures to keep the population in check.
Malthus was against the Poor Laws in England (developed for the welfare of the poor in the 18th century) and was in the support of Corn Laws that imposed a stiff tariff on the import of wheat in England, thus protecting domestic producers in the country but, simultaneously driving up the prices of wheat in England, making it unaffordable to the masses.
The main idea propounded by Malthus in his theory of population was that the population was multiplying in a geometric progression (such as 2, 4, 8, 16, 32 and so on) whereas the food production increases in an arithmetic progression (such as 2, 4, 6, 8, 10 and so on). Given that human beings need food to sustain themselves, and as the growth rate of human population was going to far outstrip the rate of growth in agricultural production, this trend would surely spell doom for the human

Malthus has also given the concept that for sustenance of life on Earth, the population will be kept in check by nature through famines and disasters which will play the role of a stabilizing and equalizing force and this concept came to be known as the Malthusian Catastrophe.
The works of Malthus also contain guidelines and directives for the governments and nations with regard to population control. However, these measures are applicable to developing and not developed economies.
The critics of Malthus object that he has not addressed the diminishing returns and the role of technological development in the concept of production.
To conclude, Malthus has predicted very early on the ill effects of a huge population and the problem of food shortage. However, the predictions are not entirely true as the human race is continuing to this day. Moreover, we know now that the study of population in isolation does not make much sense in today’s world unless it is studied along with factors such as the literacy level, life expectancy, economic conditions, skill level and the demographic dividend of the