In the past, political arithmeticians and economists who have been courageous enough to embark upon long-distance forecasts of changes in population and of their economic consequences have been notoriously unfortunate. Gregory King1 estimated that the population of England would slowly grow to eleven millions by 2300 A.D. Malthus,2 writing at a time when the population of England and Wales was around nine millions was palpably in error as to the limits of growth possible without a fall in the standard of living.
KeywordsIncome Group Small Family Population Policy Income Class Capital Equipment
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- 4.The curious should read through the controversy between Mr Keynes and Sir William Beveridge, Economic Journal, 1923.Google Scholar
- 18.M. G. Kendall, Journal of Royal Statistical Society, Part I, 1939.Google Scholar
- 24.See J. R. Hicks, ‘Mr Keynes’ Theory of Employment’, Economic Journal, June 1936.Google Scholar