Peasants, Procreation, and Pensions

Abstract

producers' and consumers' durable goods, yielding a stream of benefits which are compared with a stream of costs. Births occur if the present value of the benefits exceeds the present value of the costs. The theory has been used by Malthusians to rationalize the casual observation that population growth rates increase during the early stages of economic development and then, perhaps, fall later on as

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