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TODAY'S CIRCUMSTANCES AND YESTERDAY'S THEORIES: MALTHUS ON ‘SERVICES’
Author(s) -
Spengler J. J.
Publication year - 1965
Publication title -
kyklos
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.766
H-Index - 58
eISSN - 1467-6435
pISSN - 0023-5962
DOI - 10.1111/j.1467-6435.1965.tb00991.x
Subject(s) - yesterday , balance (ability) , economics , production (economics) , neoclassical economics , empirical evidence , labour economics , microeconomics , philosophy , psychology , physics , epistemology , astronomy , neuroscience
SUMMARY Malthus argued that maintenance of employment required maintenance of balance between those employed in ‘services’ and those employed in other lines of production. The former stimulated the latter to produce and provided a market for part of their outfit. Today we find some empirical support for Malthus's thesis in that the relative growth of employment in ‘services’ is playing an increasingly important role in the preservation of’ full’ employment.