Population growth impacts economic expansion from "summary" of Theory of Economic Growth by W. Arthur Lewis
In the process of economic growth, the expansion of the population plays a crucial role. As the population grows, so does the labor force available for production. This surge in labor force can lead to increased production levels, which in turn can contribute to economic expansion. The relationship between population growth and economic expansion is not a linear one, but rather a complex interplay of various factors. One of the key ways in which population growth impacts economic expansion is through the increase in consumer demand. A growing population means more consumers in the market, leading to higher demand for goods and services. This rise in demand can stimulate economic activity, encourage investment, and spur growth in various sectors of the economy. In this way, population growth can act as a catalyst for economic expansion. Moreover, population growth can also lead to a...
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