th. Malthus’ population principle in 1798 and 1801 Chapter 7 Petty’s Idea 2/3/16 9 HOUSE_OVERSIGHT_011068 --- PAGE BREAK --- added the mechanics. Nassau Senior made that principle his first axiom in his Outline of 1836. The biological imperative lapsed from attention when the first generation of marginalists

urn. The idea of a period of production whose reciprocal gave rate of return had begun with Rae in 1934, if you don’t count Petty, and passed through Nassau Senior to Jevons and Boehm Bawerk. All assumed growthlessness for simplicity. Return is growth rate plus cash flow rate. It simplifies to the pure consumpti