Economic growth Reason for Population Increase

Thus, nations tend to rise speedily until they press the limits of available resources, but community growth is wherefore constrained until and unless additional resources become available. For a given full-bodied capacity (both resources, such as land, and technology for exploiting it), a population expands until most people are pushed down to the subsistence level, after which the population remains more or less constant.

In Europe, during the uttermost 650-1350, there was a steady, relatively gradual, but real developed improver of population, perhaps look-alike among 650 and 1000, then doubling again by 1350. The word form of this increase strongly suggests that the land for this population increase was scotch growth, adding to the racy resources available to the European population.

It is true that 650 was at the end of a long termination of political, sparing, and demographic decline, so that Europe was underpopulated relative to its productive potential. We might then suppose that the population increase was simply a population expanding to its Malthusian limit. However, population growth of this grammatical case ("free land for the taking") can be very rapid. The population of England, for example, doubled in the 16th century, in consequence making good the losses from and following the Black chivvy 200 years earlier.

The trend of population growth in Etrope was much more gradual than we would expect from a filling-out to

Starting in Italy around the eleventh century, a variety of crude agate line arrangements and institutions began to appear. An early unmatched was the commenda, an arrangement in which whiz merchant invested in another's journey, dividing the proceeds in a way that distinguished their active and " dense partner" roles. Especially at first, these arrangements were likely to be between relatives or other previous close associates, but the commenda tag the beginning of a "business relationship." With the development of a meshwork of business relationships, new arrangements became possible. Letters of credit could be direct instead of vulnerable cash, and honored by recipients who did not hit the hay the person who issued them, on trust of the person who presented them.

Warfare was similarly a factor here. France and Spain maintained large standing armies that had to be paid for, and the officer class catered to. England and the Netherlands were more dependent on sea power, ultimately supported largely by mercenary interests, reinforcing their interest in trade. Their trade-friendly economies thus grew more rapidly.

Moreover, groups of subjects may themselves be regarded as economic players, with varying motives. Merchants are in the business of creating wealth, courtiers of displaying it. Both want to be rich, but the efforts of merchants tend to increase economic activity, while the efforts of courtiers do so only incidentally. What is the use of wealth if you cannot display it at Court?

In short, the pattern of steady, long-term population growth, accompanied by cultivation of new land by new methods, and resulting in an increase of trade, indicates economic growth and the development of new resources, not a population merely squeezing up to its fixed limits.

6. The State and economic development.

Financial structures and institutions are not the same thing as an economy. The ultimate purpose of an economy is to produce and consume goods and services, and one c
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