State of Innovation

Patents and Innovation Economics

Walter Williams and Overpopulation

In an article entitled, Overpopulation Hoax, on Lew Rockwell.com, Walter Williams argues that Thomas Malthus was incorrect in his prediction about food and population.  Williams misstates what Malthus said in suggesting that populations will have catastrophic collapses.  What Malthus predicts is that all species’ population will expand to fill the available food sources.  This means that individuals within the species will be on the edge of starvation.  If the population declines from starvation or because of some other cause, then there will be surplus calories available and the population will increase until there are no surplus calories for the species’ population.

Williams Misrepresents Malthus

If there is a positive genetic change (or positive change in the environment), there will be excess calories and the population will increase until there are no surplus calories for the species’ population.  This is true for all living species on Earth for all of history, including humans until about 1800.  Malthus’ ideas underlie all of evolutionary biology.  Even when I was born in 1960 over half the world’s human population was living in the Malthusian Trap (on the edge of starvation).  Today less than 15% of the World’s human population is living in the Malthusian Trap.  Overpopulation is not a hoax, however the catastrophic collapse nonsense of the environmental left, such as Paul Ehrlich predictions are.

Julian Simon Humans are Assets

Williams quotes economist Julian Simon that humans are the ultimate asset.   This is almost true.  Extra human beings being born in North Korea are a liability to the North Koreans, not an asset.  Humans are an asset when they are free to create new technologies and their property rights in those new technologies are protected.  Under those circumstances every additional human has a chance to be an asset.  The only way humans escaped the Malthusian Trap and the only way humans increase their real per capita income is by increasing their level of technology, which means inventing.  For more information about the cause of real per capita increases in wealth see my book Source of Economic Growth.

 

 

PS: Walter Williams is an excellent economist.

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May 31, 2017 - Posted by | -Economics, bioeconomics, Blog, Innovation | , , , ,

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