Time-Tested Significance:
Legacy and Relevance
"A writer may tell me that he thinks man will ultimately become an ostrich. I cannot properly contradict him."
- Malthusian Economic Theory focused on population growth and its impact on resources. This population theory, emphasises family planning programs and discussions on population control.
- Moreover, Malthusian economic theory contributed to bring the need for sustainable practices by recognizing the finite nature of resources. Thereby, it has contributed to identify environmental issues such as resource depletion, pollution, and climate changes, and has influenced environmental policies and practices.
- Malthusian economic theory is not universally accepted or applied in its original form. However, its ideas continue to shape the strategies for resource management and sustainable development.
- Accordingly, there is some relevance of Malthusian economic theory in the present context.
- The global population is expected to reach 9.7 billion by 2050. Therefore, understanding the relationship between population growth and resource availability is essential in this background, to address the issues like food security, water scarcity and energy demand. This has been focused on by Malthus in his population growth theory.
- The COVID-19 pandemic has provided relevance to Malthusian economic theory in the present context to examine and apply its concept of population growth, resource scarcity and sustainability.
Written By: W.A.I.Shavindi, W.R.Hansani, J. Rajapaksha
Reference:
- United Nations. (2020). Population | United Nations. https://www.un.org/en/globalissues/population#:~:text=The%20world%20population%20is%20projectd,surrounding%20these%20latest%20population%20projections.
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