The purpose of doing this was to reduce the unit cost. Malthus proposed a theory in his first work called ‘'An Essay on the Principles of the Population.'' There was a very pessimistic picture about population growth in that case and he said that ‘'It is a shame to believe that population will grow endlessly without encountering any obstacles''. According to this theory, the population increases in the form of geometric series of 1,2,4,6,8,16,32… as foods increases 1,2,3,4,5,6… in the form of arithmetic series. Malthus said that the rate of population growth was much higher than the increase in food capacity needed for human nutrition, which inevitably creates a crisis.
As the rate of capital accumulation increases, the demand for labour also increases. This encourages population growth. But mere population growth does not increase wealth. Population growth increases wealth only if it increases effective demand, and, it is increase in effective demand which leads to increase in wealth. According to the Malthusian theory population growth is a hindrance towards economic development, as population keep on growing it result in overpopulation thus the population outstrip food supply.
The economics of China have been growing rapidly since the reform and opening up in 1978. Between 1978 and 2005, China's per capita GDP had grown from $153 to $1284, that is more than 8 folds increment. This economic reform has increased inequality in China dramatically. To large extent I agree the rapid economics development of china has been more of a threat than an opportunity for China’s traditional culture. Culture is made up of 3 major components; these include material aspect, which is more physical, such as buildings and architecture.
It was surprising that decadal growth of population increased from 13.31% in 1951 to 21.64% in 1961, 24.80% in 1971, 24.66% in 1981, 23.87% in 1991, 21.54% in 2001 and 17.64% in 2011. Thus, a trend of population explosion started after 1951. Almost all States and Union Territories also show the same trend in increase of population after 1951. It is observed that consolidated annual growth rate of population in 2011 is 1.76%, whereas the States like Jammu and Kashmir, NCRT, Rajasthan, Uttar Pradesh, Bihar, Arunachal Pradesh, Jharkhand, Chhatisgarh, Madhya Pradesh, Daman & Diu, Dadar Nagar Haveli, Pondicherry and Andaman & Nicobar Islands registered a growth rate of more than 2% which is on very higher side, though in some States migration from Bangladesh may be the factor. India needs to launch an overall population awareness programme
By 2010, it had fallen 0.507 – an substantial drop. This was largely due to the rise of Asia – and primarily China – as a global superpower. In the same timeframe, China’s GDP per capita rose from 271.6 to 4560.5 , and Africa experienced a similar – though reduced – period of per capita GDP growth, driven by lowering birthrates and increasing economic growth. By comparing this growth to that of developed countries, the value of this data becomes apparent. Between 2000 and 2010, Sub-Saharan Africa has maintained a per capita GDP growth rate higher than North American for all but one year, and Europe for every single year.
A decade ago, world population was growing by 1.24 per cent per year. Today, it is slowly growing by 1.18 per cent per year, or approximately an additional 83 million people annually. The world population is projected to increase by more than one billion people within the next 15 years, reaching 8.5 billion in 2030, and to increase further to 9.7 billion in 2050 and 11.2 billion by 2100. (Esaunorg, 2015) This human population growth around the world will affect people through its impact on the economy, environment and standard of living in relation to the country’s development. At this current rate of population growth is now a significant burden to human well-being.
In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. The Chinese government faces numerous major economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes that in recent years has been a prevalent
His ‘dash for growth’ led to the Barber boom. Unfortunately, it also led to inflation and unsustainable growth (BBCNEWS, 1999). 3.3. Supply Side Policies Supply side policies refer to the policies that are design to increase the rate of the economy growth in a long run by improving the productivity and efficiency of the
The government can develop more school in its country so their citizen can have higher qualification to access into the working qualification. They can also reduce the qualification for workers to join their industries. Government can subsidize some capital to the owner so they have larger capital to invest into its business to become larger scale. Government also can offer smarts overseas employees to help local industries to develop bigger economy so the local industries needs more people to work for the company. Inflation defined as the rate at of the general level of values for goods and services is climbing and consequently, buying power is dropping.
Today, the planet had already overloaded because of growing population and there is no doubt that human is the only contributor for environmental imbalances. As population increases the need of world’s consumption is increased and to fulfill the demand for food, there is a need to expand in agriculture. Due to the activity to meet the increasing consumption, the natural resources are under pressure. For eg; fertilizer uses has