Thomas Malthus and the Theory of Inevitable Poverty - Lecture 2

Explore the economic and demographic trends of the past two centuries in this 49-minute Yale University lecture. Examine how improved life expectancies often precede increases in wealth, and delve into Malthus' "iron law of wages" and the concept of diminishing returns. Investigate the origins of the Industrial Revolution in England and understand the significance of the "world demographic transition" in economic history. Learn about the four phases of demographic patterns countries typically follow during economic development, and how these patterns relate to capital and labor. Discover how world trade acts as a means of "arbitraging" between different stages of demographic transition across countries. The lecture covers topics such as mapping global economic surges, Malthus' theory of perpetual poverty, Gregory Clarke's research, and the positive impact of biological factors on economic development.