Malthus and Ricardo
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Words: 254
Pages: 1
(approximately 235 words/page)
Pages: 1
(approximately 235 words/page)
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By the 1800s, the Industrial Revolution was well underway in Great Britain touching all sectors of the British economy. More people moved to the cities to work in the factories while less and less were left in rural areas to farm. With this came the evils of industrial society: low wages, bad living and working conditions, overcrowding, pollution and poverty. At the same time many other new inventions were appearing, such as the steam engine.
showed first 75 words of 254 total
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showed first 75 words of 254 total
showed last 75 words of 254 total
ultimately results in a shortage of food. He said, "Population, when unchecked, increases in a geometrical ratio. Subsistence only increases in an arithmetical ratio. A slight acquaintance with numbers will show the immensity of the first power compared second." He also argued that the number of laborers exceeded the amount of work in the market, which led to the low wages that were being observed in the 1800s as a result of the Industrial Revolution.
ultimately results in a shortage of food. He said, "Population, when unchecked, increases in a geometrical ratio. Subsistence only increases in an arithmetical ratio. A slight acquaintance with numbers will show the immensity of the first power compared second." He also argued that the number of laborers exceeded the amount of work in the market, which led to the low wages that were being observed in the 1800s as a result of the Industrial Revolution.