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Origins of economic development theories

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The origins of economic development theories typically date to the writings of Malthus and Ricardo.

a. Explain the basic conclusions of Malthus. Then explain Ricardian trade and how that helps to prevent running out of resources while economy continues to grow.

With the advent of adding Technological change to development models,

b. Explain how Neo-Malthusians propose to manage resources; and,

c. Explain how Neo-Ricardians (especially Schumpeter) manage scarce natural resources.

Some words and names you might use are (an essay that uses all will be too long): Carrying Capacity, Ricardian Trap, Schumpeter, Incessant Innovation, Induced Innovation, Limits to Growth, Washington Consensus, Lester Brown, Fanis-Rei.

Reference no: EM132794976

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