Economics Working Papers

Publication Date

11-27-2016

Number

16010

Abstract

Malthusian economies are generally deemed inefficient: stagnated, highly unequal, and densely populated by a labouring class prone to high fertility. This article defines and characterizes efficient allocations in Malthusian environments of fixed resources and endogenous fertility. We show, that under general conditions, efficient allocations exhibit stagnation in standards of living, inequality, differential fertility, and a high population density of poorer individuals.

JEL Classification

D04, D10, D63, D64, D80, D91, E10, E60, I30, J13, N00, O11, O40, Q01

File Format

application/pdf

Length

44 pages

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Manuscript Number

16010