The fundamental argument in the Essay on the Principle of Population was that improvements in technology or increases in physical capital would lead to only temporary improvements in productivity because they would always be offset by:

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In the Essay on the Principle of Population, the fundamental argument is that improvements in technology or increases in physical capital would lead to only temporary improvements in productivity because they would always be offset by the pressure of rising population and more workers on the supply of land. As the population grows, the demand for land increases, which leads to diminishing returns in agricultural output. This results in a natural check on population growth through famine, disease, and war. Therefore, the pressure of rising population and more workers on the supply of land is the offsetting force that prevents sustained improvements in productivity.

The Fundamental Argument in the Essay on the Principle of Population