b) Discuss the key features of the pre-industrial world that madethe economy "Malthusian," in particular explain which featuresare critical to explaining the Malthusian poverty trap?

Answered: b) Discuss the key features of the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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b) Discuss the key features of the pre-industrial world that made
the economy "Malthusian," in particular explain which features
are critical to explaining the Malthusian poverty trap?

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Introduction

Malthus wrote about the poverty and underdevelopment of underdeveloped countries in his Principles of Political Economy. He wrote about the economic backwardness of countries like Spain, Portugal, Hungary, Turkey, Ireland, and nearly the whole of Asia, Africa, and Latin American countries. Because of which his theory of economic development has more relevance to underdeveloped countries of pre-industrial than the theories of other classical economists.

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