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In fact, by using set rates only in relation to each other, he ignored much more than food prices. In an artificial economy established in an economic lab such set ratios can be accurately predictive. However, in the natural environment, there are many external factors that would affect change on his model, and did affect change...
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Prices are a key oversight in his theory. While the basic premise that population growth may outstrip the growth in food productivity was true based on the circumstances within which he operated, he didn’t account for the economics of food productivity to drive an increase in production worldwide that offset any local market conditions and shortages in supply...
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