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Jul 19, 2023Liked by Rafael R. Guthmann

It would be interesting to read your take on Oded Galor’s ‘unified growth theory’ model at some point.

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Dec 1, 2023·edited Dec 1, 2023

Malthus stated that population tends to grow with economic growth, which is true. Consider that most people will only decide to have children once they can afford them. Malthus even stated why the birth rate decreased since around 1800: it was caused by a reduction in the death rate (the mechanism is somewhat more complex). This occurrence is called "demographic transition". The demographic transition, on the other hand, led to the escape from the Malthusian trap as it enabled an increase in GDP per capita and stopped population from "eating up" economic progress. The same principles worked in Greek and Roman economies. Here is a nice narrative: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3492297

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Great commentary, Rafael. I wonder if high fertility rates are perhaps best explained by the structure of the economy. In rural societies, more children means more workers and a better retirement plan for the parents. I don't know if this can account for ancient Greece, though.

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