Malthusian Stagnation is Efficient

Date
2016-11-27
Authors
Cordoba, Juan
Liu, Xiying
Cordoba, Juan Carlos
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Altmetrics
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Economics
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Economics
Abstract

Malthusian economies are generally deemed inefficient: stagnated, highly unequal, and densely populated by a labouring class prone to high fertility. This article defines and characterizes efficient allocations in Malthusian environments of fixed resources and endogenous fertility. We show, that under general conditions, efficient allocations exhibit stagnation in standards of living, inequality, differential fertility, and a high population density of poorer individuals.

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