The impact of population growth has been systematically exaggeratedÃ¢ÂÂ¦ the real issue is ever increasing levels of consumption
Humanity has been always facing a basic economic problem of scarcity where too many wants are chasing too few goods. Over the past centuries amount of 'goods' on Earth has not increased, whereas the amount of wants has. Some amount of human wants has been compensated by the increase in scientific innovation allowing us to do things more efficiently, but the problem is that majority of has not. Up to know both market and controlled economies have failed to achieve a sustainable allocation of resources, but why is that?
By 2050 the world's population is predicted to rise up to 9 million. According to The International Monetary Fund world's food prices have risen by 23% during the last 18 months. Increase in population tends to shift demand curve for food to the right causing the rise in the price level.
Due to such a rapid growth in population shift in demand curve by 2050 may cause food prices to rise 10-20 times they are today. A large part of the world's population simply will not be able to afford to buy food leading to a global starvation. Malthus's work 'Essay on the Principle of Population' states world's demographics increases in 'geometrical ratio' (i.e. by a certain factor), when food supply can increase no faster then the number sequence. This argument predicts that food supply curve is not able to keep up (shift right fast enough) with rising demand (due to a rising population). As mentioned before a free market allocation of resources will lead to a rise in the food price to make sure that who can't afford it does not get it, leading to starvation and eventually decrease in population (technically...