In New Ideas from Dead Economists, Todd G. Buchholz provides a detailed glimpse at the past generations economists and how their principles and theories have and still are affecting our growing world. According to Alfred L. Malabre, Jr., Buchholz, an internationally renowned economist provides a “well-written guide to the still living ideas” of the most influential economists that “fashioned our prosperity” (Buchholz, 3). Thomas Malthus is known for his pessimistic economic theory concerning human population growth in conjunction with the worlds food supply.
Economics as stated in the introduction is “the study of choice.” Economics does not tell us what to choose or how to choose it, only the consequences of our choices. Over the centuries, economists have always been labeled negatively for their theories that state successes doesn’t occur without sacrifices. Economists are though to be the source of disappointment, but on the contrary are trying to better the world (Buchholz, 17).
Economics has been evident in politics. According to Buchholz the “strongest link between economics and the real world has always been politics.” History has shown connections between governments and economists, in fact many economic greats went on to serve in politics. For example in election campaigns, the promises of bigger and better things are made, and economists must be there to warn of the consequences from these improvements. Economics even dates back to the Bible, which discussed the ideas of land, labor, and capital, and is still alive and well in modern society (Buchholz, 18). The outcomes of economic success and failure can be seen in two cases, the rise of the Chinese economy an...
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...d arise. Global warming alone would not prove Malthus write, but effects on food supply in response to the warming may. Though its just as possible that again, we can make the needed technological advances to disprove Malthus again (Buchholz, 60).
From the flaws throughout Malthus’ theory the only conclusion one can come to is that he was incorrect in his predictions. He used unreliable data and extrapolated off said information. These errors lead to faulty interpretation and a lack in accuracy. One could argue the fact that given the time he wrote his Essay there was no way to predict the advances that occurred throughout the world, but he made errors interpreting the data such as the reasons of growing population. Malthus’ theory may have been held during his age, but as the time passed and technological advances were made it became outdated and lost credibility.
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