Chose the correct answer and explain why:
Malthus and Ricardo would both agree that
a. One solution to poverty was to pay higher wages
b. Poverty was inevitable
c. Economic growth would end up in poverty in the long run
d. capitalism is an evil system
I'll be glad to discuss YOUR answer with you.
well i picked d but it is incorrect. i believe the right answer is B because they both discuss pessimistic views of the working class and with Malthus he believed that the the population would outrun the food supply so then poverty would occur. Ricardo talks about wages increasing and decreasing due to how many children one has, but i don't think he discusses poverty. I'm not 100%percent sure though that B is the correct answer.
I'm sure your answer (B) is correct.
Ricardo essentially said that as resources became scarcer, goods would cost more, thus sinking more people into poverty.
http://world-poverty.org/economicpoverty.aspx
thank you!
You're welcome.
The correct answer is b. Poverty was inevitable.
Explanation:
To determine the correct answer, we need to understand the perspectives of both Malthus and Ricardo.
Thomas Malthus was an economist and demographer who suggested that population growth would outpace food production, leading to a Malthusian catastrophe where poverty, disease, and famine would be inevitable consequences. Malthus believed that poverty was an inherent, unavoidable outcome of population growth.
David Ricardo, on the other hand, was another prominent economist who focused on the theory of comparative advantage and the distribution of wealth. Ricardo argued that as population increases, the demand for labor also rises, resulting in lower wages and higher profits for the capitalists. He believed that poverty was a consequence of the capitalist system, where wages would eventually be driven down due to supply and demand dynamics.
Given these explanations, both Malthus and Ricardo would agree that poverty was inevitable. Malthus would argue that population growth would lead to scarcity of resources, ultimately resulting in poverty. Ricardo, on the other hand, would argue that the capitalist system would ultimately drive wages down, leading to poverty in the long run.
Therefore, option b. "Poverty was inevitable" is the correct answer based on the perspectives of Malthus and Ricardo.