Other Theorists…
Thomas Malthus
Thomas Malthus

Based his theories on the idea of scarcity

Scarcity: unlimited needs/wants, limited
resources

We WILL run out of resources

Population is growing so fast it will out-pace food
supply
Thomas Malthus

When population outpaces food supply,
chaos will ensue

People will overthrow governments and kill each
other

The only way to prevent this from happening is
to limit our population
Thomas Malthus
Thomas Malthus

How to reduce population:
 War
 Birth
control
 Death
penalty
 Disease
Index Card

Let’s make an index card for Thomas Malthus…
Thomas Malthus
 Population
will outgrow resources
 Population
must be kept to a minimum
 If
resources are depleted, chaos will
ensue…
 Based
on idea of scarcity
Jeremy Bentham
“Tyranny and
anarchy are
never far apart”
Jeremy Bentham

“Hippy” of the economic theorists

“Father of Utilitarianism”

Theory of Utility: whenever a decision must be
made on a course of action, always choose the
path that results in the great amount of
happiness for the greatest number of people
Example
 Should
I can watch tv? Or study for
global?
 Consider:
 Option
1 (tv): I am happy.
 Option
2 (study): I don’t like it. My parents are
happy. My teacher is happy. I receive human
capital.
 Based
on the theory of utility – Bentham would say
choose option 2
Check for understanding

What is the theory of utility?
 Create
the greatest amount of happiness for the
greatest number of people

Why should population be controlled?
 To

conserve resources, otherwise chaos will happen
What is scarcity?
 Unlimited
needs/wants, but limited resources