The most basic result of economics is the law of supply and demand. If the demand exceeds the supply, the price will go up. If the supply exceeds the demand, the price will fall. An indisputable observation is that people are getting paid more and more. This has been true for about the last four centuries. If you put these two things together, then you have to conclude that we don't have an overpopulation problem. We have, in fact, an underpopulation problem. It is not a new problem, and it is not likely to go away any time soon.
posted at: 14:06 | path: /economics | permanent link to this entry