Represents the expansion of a country’s national

output.

Denotes the ratio of output in a weighted average of

inputs.

Human resourceso Labor supply, education, discipline, motivation.

Natural resourceso Land, minerals, fuels, environmental quality.

Capital formationo Machines, factories, roads.

Technological change

Labour inputs consist of quantities of

workers and of the skills of the

workforce.

Consists of all those people 15 years of age

or older who are currently employed or

looking for work.

Blue collar- Workers that take their name

from the denim shirts often worn

by those who perform physical labor .

White collar- Jobs that take their name from

the white shirts traditionally worn by

men & women who works in

stores & offices.

The proportion of women inthe labor force has beenincreasing

Just before WWII, in 1940, only 28 out of every100 workers were women. By 1947 theirnumbers had grown up 36 out of 100 workers.

Right now there are now 60 women for every100 workers in the labor force.

Workers have been leaving the farm

Overall employment in the farming industry isexpected to decline as small farms are consolidatedinto commercial areas.

Labor has been earning higherwages while working comparablehours

In the early 1950’s the typical factory worker in the USwas paid out of $60. due to the inflation it rises in to$350 during 1992.

Education has beenincreasingly important

Technology has given a tight trained for laborforce. Those lacking necessary skills andadequate schooling have far more difficultyearning a living than those who complete theireducation.

It is also called social overhead capital.

Denotes changes in the process of production

or introduction of new products or services.

1. Adam Smith- “That original state of things, which precedes

both the appropriation of land & the

accumulation of stock.”

- “This was a time when land was freely

available to all, and before capital

accumulation had begun to matter.”

2. Thomas Malthus

Works of Thomas Malthus:

1800: The present high price of provisions

- In this work, his first published pamphlet, Malthus argues againstthe notion prevailing in his locale that the greed ofintermediaries caused the high price of provisions.

1815: The policy of restricting the importation of Grain

- Malthus emerged as the only economist of note tosupport customs duty on imported grain. He had changed his mindfrom the previous year, siding now with the protectionists.Foreign laws, he noted, often prohibit or raise taxes on theexport of corn in lean times, which meant that the British foodsupply could become captive to foreign politics. By encouragingdomestic production, Malthus argued, the Corn Laws wouldguarantee British self-sufficiency in food.

1820: Principles of

political economy

1827: Definitions in

political economy

Negative Checks were used to limit the

population growth. It included

abstinence/ postponement of marriage

which lowered the fertility rate.

Positive Checks were ways to

reduce population size by events

such as famine, disease, war -

increasing the mortality rate and

reducing life expectancy.

There has been a population explosion.

Africa – repeated famines, wars, food

crisis, environmental degradation, soil

erosion, crop failure and disastrous

floods – so was he right?

Technological improvement which he

could not have foreseen.

The increased amount of cropland due to

irrigation.

Reduced population growth as countries

move through the DTM.

Group of industrialists, scientists, economists

and statesmen from 10 countries.

Published „The Limits to Growth‟ in 1972.

“END OF THE

PRESENTATION”