GEOG_130 (5/29)

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Department
Geography
Course Code
GEOG 130
Professor
Nicole C.List

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GEOG 130 (5/29) The Market as the Solution? Smith and the Ecosystem Services Review of Malthus BBC Clip ● Does this film rely upon Malthusian or neo-Malthusian ideas? (Demographic transition) ○ Poor vs. rich population growth → demographic transition? (1. Decrease in mortality b/c health care, living, 2. Decrease in fertility) dieff times/diff places - happening now in poor when happened in poor already ■ In present, less children later on in life based on women empowerment, technology ■ In past, more children for farmwork, care but more die ○ Force in demographic transition in poor countries ○ Drop in present fertility? But in 1950, higher infant mortality rate ○ Not neo-Malthusian ● How would you critique how this clip presents the growing population? ○ Wide range of predictions based on diff scenarios ■ Who hasn’t gone through transition? Putting blame on poor countries Adam Smith ● Division of labour ○ “Invisible Hand” ○ “Wealth of Nations” ○ Specialization of labour = increase efficiency/inc. productivity = improvement of society ■ Not all needs to be farmers/primarily agriculture ■ Individual workers’ skills increase ■ time is saved between tasks/workers ● Less training ● Less movement ● Can easily replace workers ■ Machines are developed to perform isolated tasks ○ 1723-1290: Before Malthus/Indus Rev = rise of commercial society (small scale industry) ○ Small towns/cities rise b/c division of labour ○ Pin Factory ■ Increase of production ○ Causes/limits the division of labour? ■ Origins not foreseen/intended ● Necessary, though slow and gradual ● a certain propensity in human nature ■ Limits include extent of the market ● Readily obtain by exchange, certain trade in great towns ● Man lives live by exchanging or becoming a merchant = commercial society ● → The Labour Theory of Value ○ Division of labour (production vs. farm; barter/exchange) → generalized use of money ○ Money becomes the measure of the exchange value ■ Two kinds of value: use-value and exchange-value (mutual exclusive) ● Exchange value set by labour to produce the cup ● Value and price not the same thing ● Rent/capitalists/workers play a part ■ Price is set in the market, subject to supply and demand ○ Price vs. Value ■ Commodity: thing sold/bought on the market ■ Money becomes the measure of exchange value ■ Money is subject to changes in its own value, role of supply/demand ■ Money expresses the nominal price, but ‘can never be an accurate measure of the value of other commodities’ ○ How are wages set? ■ The money price of labour is necessarily regulated by demand of labour & price of the necessaries and conveniences of life ■ Cannot go below the price of reproducing labourers themselves ● → Economy and Population Growth ● Malthus ○ Wages/prosperity → population groups → redundant population → misery/vice → checks on the population → ● Smith ○ Population growth → Increased labour supply → lower wage → higher profits → Increased accumulation/investment → increased demand for labour → wages prosperity → ○ Diff: population growth is a good thing, sign of prosperity ○ Scarcities are imbalances between supply/demand, which the market will remedy ○ Famine/poverty happen because the government intervenes ■ “Invisible hand”: critique of government trying to remedy what the market will fix ● If drought at place X, merchant at Y notices and sells at X, prices equilibrate at X (price cannot be above ability to reproduce) ● Gov intervenes, price
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