1. Other Theorists…

2. Thomas Malthus

3.  Based his theories on the idea of scarcity  Scarcity: unlimited needs/wants, limited resources  We WILL run out of resources  Population is growing so fast it will out-pace food supply

4. Thomas Malthus  When population outpaces food supply, chaos will ensue  People will overthrow governments and kill each other  The only way to prevent this from happening is to limit our population

5. Thomas Malthus

6.  How to reduce population:  War  Birth control  Death penalty  Disease

7. Index Card  Let’s make an index card for Thomas Malthus…

8. Thomas Malthus  Population will outgrow resources  Population must be kept to a minimum  If resources are depleted, chaos will ensue…  Based on idea of scarcity

9. Jeremy Bentham “Tyranny and anarchy are never far apart”

10. Jeremy Bentham  “Hippy” of the economic theorists  “Father of Utilitarianism”  Theory of Utility: whenever a decision must be made on a course of action, always choose the path that results in the great amount of happiness for the greatest number of people

11. Example  Should I can watch tv? Or study for global?  Consider:  Option 1 (tv): I am happy.  Option 2 (study): I don’t like it. My parents are happy. My teacher is happy. I receive human capital.  Based on the theory of utility – Bentham would say choose option 2

12. Check for understanding  What is the theory of utility?  Create the greatest amount of happiness for the greatest number of people  Why should population be controlled?  To conserve resources, otherwise chaos will happen  What is scarcity?  Unlimited needs/wants, but limited resources