The economic conclusions reached by Malthus and Ricardo

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Malthus and Ricardo believed that the economy operated according to natural laws and that industrialization would lead to economic growth and increased wealth for some, but they also acknowledged that this would come at the expense of the poor, who would experience low wages and unemployment. Their theories provided justifications for this outcome, which were widely accepted by the ruling classes of their time.

The Economic Conclusions Reached by Malthus and Ricardo