Other Theorists…. Thomas Malthus Based his theories on the idea of scarcity Scarcity: unlimited...

Other Theorists…

Thomas Malthus

Thomas Malthus Based his theories on the idea of scarcity

Scarcity: unlimited needs/wants, limited resources

We WILL run out of resources

Population is growing so fast it will out-pace food supply

Thomas Malthus

When population outpaces food supply, chaos will ensue

People will overthrow governments and kill each other

The only way to prevent this from happening is to limit our population

Thomas Malthus

Thomas Malthus

How to reduce population: War Birth control Death penalty Disease

Index Card

Let’s make an index card for Thomas Malthus…

Thomas Malthus

Population will outgrow resourcesPopulation must be kept to a minimum If resources are depleted, chaos will

ensue…Based on idea of scarcity

Jeremy Bentham“Tyranny and anarchy are

never far apart”

Jeremy Bentham

“Hippy” of the economic theorists

“Father of Utilitarianism”

Theory of Utility: whenever a decision must be made on a course of action, always choose the path that results in the great amount of happiness for the greatest number of people

ExampleShould I can watch tv? Or study for

global? Consider:

Option 1 (tv): I am happy. Option 2 (study): I don’t like it. My parents are

happy. My teacher is happy. I receive human capital.

Based on the theory of utility – Bentham would say choose option 2

Check for understanding

What is the theory of utility? Create the greatest amount of happiness for the

greatest number of people Why should population be controlled?

To conserve resources, otherwise chaos will happen What is scarcity?

Unlimited needs/wants, but limited resources