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Optimal population size and endogenous growth.

T Palivos, C K Yip

    Economics Letters
    |January 1, 1993
    PubMed
    Summary
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    The Benthamite welfare criterion, maximizing total utility, results in smaller populations and higher economic growth compared to the Millian criterion, which maximizes average utility. This challenges previous economic conjectures on population size and living standards.

    Area of Science:

    • Economics
    • Economic Growth Theory
    • Welfare Economics

    Background:

    • Comparing economic allocations across different population sizes necessitates objective functions.
    • Benthamite (classical utilitarianism) and Millian (average utilitarianism) welfare functions are commonly used.
    • Edgeworth conjectured the Benthamite principle leads to larger populations and lower living standards.

    Purpose of the Study:

    • To investigate Edgeworth's conjecture within an endogenous growth model.
    • To analyze the interplay between output and population growth rates.
    • To compare the implications of Benthamite versus Millian welfare criteria on population and growth.

    Main Methods:

    • Utilizing an endogenous growth framework.
    • Modeling interactions between output and population growth rates.
    Keywords:
    Comparative StudiesCritiqueDemographic FactorsDemographyEconomic FactorsPopulationPopulation DynamicsPopulation SizePopulation TheoryResearch MethodologySocial SciencesSocioeconomic FactorsStandard Of LivingStudiesTheoretical StudiesWorld

    Related Experiment Videos

  • Analyzing optimal conditions under different welfare criteria.

    • Main Results:

    • The Benthamite criterion leads to smaller population sizes.
    • The Benthamite criterion results in higher output growth rates.
    • These findings contrast with Edgeworth's original conjecture.

    Conclusions:

    • Under optimal conditions, the Benthamite approach promotes population reduction and enhanced economic growth.
    • The study provides new insights into welfare economics and population dynamics.
    • Endogenous growth models offer a framework for re-evaluating classical economic conjectures.