Malthus, Thomas Robert (1766–1834)

A brief biographical sketch precedes a discussion of important methodological features of Malthus's work, especially his 'doctrine of proportions' and the need for moderation and balance in economic principles and policies. His principle of laissez-faire admitted exceptions; and, although his principle of population warned of over-population, he acknowledged the potential advantages of population growth. His ideas on the Poor Laws, the Corn Laws, Say's Law, and the relation between saving and investment are discussed; and the roles given to effective demand and to distribution as a factor of production, especially the distribution of landed property, are emphasized.