BOOMSTERS AND DOOMSTERS.

BOOMSTERS AND DOOMSTERS. Kids, the wikipedia article on Cornucopians is a good breakdown of why the Malthusian debate is such an important issue and apparently always will be. Cornucopian theory is based on the laws of supply and demand. As wikipedia explains the theory, population increase will tend to increase the prices of natural resources. However, “Higher prices create an opportunity…which leads inventors and businesses to seek new ways to satisfy the shortages….Most orthodox economic theories of the twentieth century are Cornucopian because they are based on the model that humans ‘produce’ or ‘create’ wealth rather than permanently ‘transform’ natural resources.” The wikipedia article notes that Cornucopians are sometimes referred to as “Boomsters”, and Malthusians are referred to as “Doomsters.”