LECTURE I 

 THE GROWTH OF POPULATION 



It is necessary at the outset to gain u thorough insight 

 into the economic laws governing the growth of population 

 and its relation to rents. This subject is but little understood, 

 which is unfortunate, because of its supreme importance. 

 It is necessary to understand the part played by the 

 standard of living in determining rents as well as wages. 

 Economists are now agreed that the standard of living to 

 which a class of workers has become habitually accustomed 

 is a factor of prime importance in determining the rate of 

 wages which they will receive ; for should a reduction of 

 wages below that necessary to maintain the standard of 

 living begin to occur, either as a result of falling demand 

 for the commodity, or from an increase of that kind of 

 labor, the workpeople resist the fall by every means at their 

 disposal. It will be found that they tend either to transfer 

 their services to other industries or to adopt a powerful 

 trade union combination. In one way or another the 

 standard of living reached by that class of workers is 

 maintained and the market price of the commodity they 

 produce must be based upon it. Of course, there are 

 occasional instances of dying industries in which the 

 standard of living of workers does actually decline ; but in 

 almost all employments after a wage rate has been reached 



