i need help to write a 3 page long economics paper.The question is "
Thomas Malthus argued that...

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i need help to write a 3 page long economics paper.The question is " 
Thomas Malthus argued that capitalism was unstable due to booms and busts in the economy, and so he wanted to see more of society’s surplus go to the landlord class.To what extent is Malthus’s view similar to and/or different from that of John Maynard Keynes, who argued in his General Theory that “animal spirits” motivated profit expectations and were associated with volatility in capital markets and hence with chronic and periodic unemployment of factors of production?

How was Malthus’s view different from Keynes?How was the period during which he was writing affect this comparison?Does his feeling that the landed aristocracy should be promoted also affect this comparison?"

David · Accepted Answer

Introduction to Malthusian Approach 
Malthus was a classical economist and favored (to some extent) minimal government 
intervention as a way to achieve efficient outcome. He worked and built his idea on the basis of 
Adam Smith theories. He borrowed the term “standard measure of value” from smith and used it 
against Ricardo; he adopted definition regarding determination of value by quantity of capital 
and labor necessary for the production of an article.  
Malthus tried to explain unemployment and misery in the working class as a consequence 
of the “natural law of population” and “absolute excess of number of people”. He disagreed with 
the Ricardo‟s labor theory of value, which equated the value of goods to cost of production by 
considering the profit as a nominal addition to the cost of production. By separating profit from 
labor, Malthus maintained that source of capitalist‟s profit is not surplus value but the sale of 
goods at price exceeding their cost. Malthus used this ground to develop vulgar theory of 
distribution, which implied that if the good is sold at price exceeding the cost of production, the 
distribution of any quantity of goods and services cannot be guaranteed on the basis of their total 
demand by capitalists and workers. According to him, solution to the problem of distribution in 
the steady growth of unproductive consumption lies with clergymen, and landowners and 
servitors who according to Malthus can create additional demand for all the goods and service 
produced in a society, a demand necessary for production under capitalistic society. In policy 
terms, Malthus opposed Ricardo on the question of Corn Laws. Malthus supported their 
argument on the ground that there is need to prioritize the domestic production and protect it 
from foreign imports, partly to ensure that there is sufficient agricultural capacity in the times of 
war. Although Malthus recognized the positive role of market forces, Malthus as elsewhere 
rejected the doctrine of laissez-faire. According to him,

i need help to write a 3 page long economics paper.The question is " Thomas Malthus argued that capitalism was unstable due to booms and busts in the economy, and so he wanted to see more of society’s...

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