Economics of population

Abstract

This volume examines the economic aspects of demographic changes occurring in the world fertility mortality and labor force behavior. Emphasis is on microeconomic concepts of personal productivity longevity and reproductivity. Thus the economic and demographic processes that receive the most attention are market labor force participation and hours of work mortality and fertility. The volumes 2nd chapter provides an historical perspective on the current era of demographic transition and technological change. The Malthusian framework of economic-demographic equilibrium has influenced considerably how people think about population growth. By considering this closed micro-macro model it is possible to see both the genius and the limitations of the grand design of Classical Economics. Recent studies of preindustrial England suggest several aspects of Malthuss model that are in need of modification. The following chapter surveys the demographic dimensions of the worlds modern development and demographic transition i.e. the decline in mortality that has been followed in some instances by a decline in fertility. The developing countries of Taiwan and Colombia are reviewed in some detail. The technical and structural change that underlies modern economic growth often appears to swamp the magnitude of long-run propensities of population growth and diminishing returns the 2 pivotal concepts in Malthuss formulation. The 4th chapter begins with standard consumer demand theory extending it in directions that are more suitable for the study of household long-run economic and demographic behavior. The labor-leisure choice framework is modified to treat the variety of nonmarket activities occurring in the household that combine market goods and time to produce final consumption commodities. Problems are discussed in applying this framework to choices made by families and to infer the value of time of family members who are not in the wage labor force. This chapter provides analytical tools that are useful for economics of population. Describing what is known about the origins of recent mortality declines and their consequences on fertility the 5th chapter considers the causal structure of the demographic transition. The subsequent chapter explores alternative microeconomic approaches to fertility determination and their implications for population quality and policies. The final 2 chapters use the demand framework to interpret patterns of labor force participation and hours worked of women and men and reinterates and projects several themes of the book.

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