Questions what is the main features of the socialist economy?

The teachings of Ricardo, Malthus and Hume

Key words: human perfectibility, demography, Scientific revolution, Industrial Revolution of Classical School
Answer:
Malthus was a demographer before he was ever considered an economist. He first came to prominence for his 1798 publication, An Essay on the Principle of Population. In it, he raised the question of how population growth related to the economy. He affirmed that there were many events, good and bad, that affected the economy in ways no one had ever deliberated upon before. The main point of his essay was that population multiplies geometrically and food arithmetically, therefore whenever the food supply increases, population will rapidly grow to eliminate the abundance. Eventually in the future, there would not be enough food for the whole of humanity to consume and people would starve. Until that point, the more food made available, the more the population would increase. He also stated that there was a fight for survival amongst humans and that only the strong who could attain food and other needs would survive, unlike the impoverished population he saw during his time period.

43. 
    What does shed light on Smith`s wages fund doctrine?
    

Key words: capital circulation, savings of the capitalist, revenue
Answer:
The wage–fund doctrine is a concept from early economic theory that seeks to show that the amount of money a worker earns in wages, paid to them from a fixed amount of funds available to employers each year, is determined by the relationship of wages and capital to any changes in population. In the words of J. R. McCulloch, wages depend at any particular moment on the magnitude of the Fund or Capital appropriated to the payment of wages compared with the number of laborers... Laborers are everywhere the divisor, capital the dividend. The economists who first stated this relationship assumed that the amount of capital available in a given year to pay wages was an unchanging amount. So they thought that as the population changed so too would the wages of workers. If the population increased, but the amount of money available to pay as wages stayed the same, the results might be all workers would make less, or if one worker made more, another would have to make less to make up for it and workers would struggle to earn enough money to provide for basic living requirements. Later economists determined that the relationship of capital and wages was more complex than originally thought. This is because capital in a given year is not necessarily a fixed amount, and the wage–fund doctrine was eventually abandoned in favor of later models.

44.