UCLA Malthus Population Doctrine and Labor Theory of Value Questions
Question Description
1.Explain Malthus Population Doctrine. How does he prove that no matter how hard we work, population will always outweigh Earths productive resources. Why have Malthus predictions not happened yet?
2.Describe Ricardos Labor Theory of Value (LTV). How is he able to describe all costs of production in terms of labor? How does his Iron Law of Wages allow him to state the value of a days labor in terms of food?
3.if the value of all goods produced come from the labor used to make them, where does profit come from?
4.Describe Ricardos theory of rent. Does Ricardo regard the rent a farmer must pay for his land as contributing to the value of his crops
5.In Smiths view, what are the differences between capital, profit, and rent?
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