The Standard of Living in the Industrialized Nations Has Improved

The standard of living in the industrialized nations has improved dramatically over the past two centuries despite Malthus's dismal predictions.Malthus's most important mistake was to

A) underestimate the extent of technological change.
B) ignore the benefits of free trade between nations, as witnessed by his advocacy of the Corn Laws.
C) believe that the capital stock would remain at a constant level due to a lack of incentives for expansion.
D) ignore the potential for expanding actual output to the level of full-employment output.
E) ignore the effects of population increase.