title: On the Malthusian theory of long swings.
abstract: "In the Essay on Population economic growth consists of alternating surges of population (during which real wages fall and the rate of profit rises) and capital (during which the reverse occurs).  A series of temporary equilibria exists at which wages are maximal, the rate of profit minimal, and fully employed work-force in technically determined relation to fixed capital stock.  Between these equilibria occur episodes of excess labour, below-maximum wages, above minimum profit-rate and capital accumulation.  Malthus's 'ratios' presuppose a logarithmic production function that implies first, that the full-employment real wage will fall to subsistence; secondly, that the full-employment 'wages fund' is constant." (SUMMARY IN FRE)
authors.forename: A M
authors.initials: AM
authors.lastname: Waterman
mesh_terms: D003710:Demography; D004467:Economics; D004651:Employment; D006280:Health Workforce; D008722:Methods; D008962:Models, Theoretical; D011153:Population; D011157:Population Dynamics; D012106:Research; D012456:Salaries and Fringe Benefits; D012942:Social Sciences
keywords: Capital; Demographic Factors; Demography; Economic Conditions--changes; Economic Development; Economic Factors; Employment; Human Resources; Labor Force; Macroeconomic Factors; Malthusianism; Manpower Needs; Mathematical Model; Methodological Studies; Models, Theoretical; Population; Population Dynamics; Population Theory; Production; Research Methodology; Social Sciences; Theoretical Studies; Wages; World