“On the whole it may be observed, that the specific use of a body of unproductive consumers, is to give encouragement to wealth by maintaining such a balance between produce and consumption as will give the greatest exchangeable value to the results of the national industry.”

— Thomas Robert Malthus , Principles of Political Economy

Book II, Chapter I, On The Progress of Wealth, Section IX, p. 412-413
Principles of Political Economy (Second Edition 1836)

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Thomas Robert Malthus 60

British political economist 1766–1834

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Context: One thing which is striking in Malthus's theory is his insistence on contradictions and conflicts in the capitalist system. The system is shown not to be self-adjusting. Unless a large class of unproductive consumers was maintained, periodic over-production and stagnation would inevitably occur. For the first time, in English economic theory at any rate, the possibility of crises arising from causes inherent in the capitalist system was admitted.

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“On the whole it may be observed, that the specific use of a body of unproductive consumers, is to give encouragement to wealth by maintaining such a balance between produce and consumption as will give the greatest exchangeable value to the results of the national industry.”

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Thomas Robert Malthus 60

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