Economics is the Dismal Science
Economics has been called the dismal science. This is because some of the early practitioners were quite skeptical about an economy's capability to keep up with population growth. This has proved not to be a problem. Technology has remained far ahead of needs in the industrialized world.
Population growth has a tendency to become enmeshed with the whole subject of economics, because people see it affecting markets especially with regard to the use of "limited" resources. It can be argued, at this point in our technological advancement, that the idea of limited resources is strictly a state of mind. Technology seems to be able to solve most of our physical problems. Growing populations are accomodated. The fact remains that as western society has prospered, it has actually begun to decline in numbers.
Editorial Note: When I talk to people about the prospect of living for centuries, which is becoming more and more likely as scientists find new ways to extend our life spans (the advent of reservatrol being merely a case in point), I find they put forward the notion that over-population would result and that this result would be bad. It is as if they would rather see people die than face the possibility that their extended existence might put a strain of physical resources. I doubt these people even consider their own demise as part of this equation. The fact is, that as humans become able to live longer, they have shown less and less desire to reproduce. Look even at the last couple of generations with the marked reduction in the size of families. Six to eight children were at one time common. Today the 2.3 births per couple needed to maintain population equalibrium is barely maintained in the U.S. and is NOT maintained in Europe and large parts of Asia.
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W.J. Rayment
