Question
Suppose that there are two isolated Malthusian economies which you can call Europe and Americas. For simplicity, suppose that the two economies have about the
Suppose that there are two isolated Malthusian economies which you can call "Europe" and "Americas". For simplicity, suppose that the two economies have about the same land area and land quality, but one of the economies, Europe, has a higher technology level as well as more infectious diseases. What predictions does the Malthusian model make regarding income per person and population in the two economies in isolation? Then, suppose that the two economies "discover" each other, which allows technology, disease, and population transfers between them. What are the short and long-run effects of this discovery on the two economies? Can you show me graphically please.
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