Economic Challenger Issue 85 Oct to Dec 2019 | Page 6

population is growing and if the production of
consumer goods has diminishing returns to the
people. However, consumption per capita can
still be increasing, despite these diminishing
returns, if the positive impact of the growth in
human capital on product ivity in the
consumption sector more than offsets the
negative effects of population growth. Thus,
zero population growth is not necessary for
sustainable growth in per capita consumption,
even w ith diminishing returns to the
population in the production of consumer
goods
Rapid population growth slows down the
growth of per capita incomes in developing
countries and tends to perpetuate inequalities
of the income distribution. increase in
population by adding to the number of people
whose requirements of "feeding and clothing"
have to be met tends to raise consumption and,
therefore, lowers both saving and investment
In several studies of the implications of
alternative paths of population growth,
starting with Coale and Hoover (1958), rapid
growth has a retarding effect on savings and
investment.
Jhingan 2005, states that the effect of
population growth on per capita income is
unfavorable. The growth of population tends to
retard the per capita income in 3 ways: It
increases the pressure of population on land; It
tends to raise the cost of consumer goods
because of the scarcity of the cooperate factors
to increase their supplies, It tends to a decline
in the accumulation of capital because with an
increase in family members, expenses increase.
These adverse effects of population growth on
per capita income operate more severely if the
percentage of children in the total population
is high, as is the case in Nigeria. Children
involve an economical cost in the form of time
4
spent and money expended in bringing them
up. Besides, faster population growth makes a
choice scarce between higher consumption
now and the investment needed to bring higher
consumption in the future.
Therefore, rapid population growth retards
i nve s t m e n t n e e d e d fo r h i g h e r f u t u re
consumpt ion. According to the study
committee of the office of the foreign secretary
National Academy of Science (SCOFSNAS),
1972 rapid population growth holds down the
level of saving and capital investment in the
means of production and thereby limits the rate
of growth of the gross national product in
Nigeria.
W House, G Zimalirana (1992) studied the
consequences of the population on
development in Malawi and found that all were
experiencing intense pressures from the
increasing population, thereby adding to the
taR number of households whose condition is
sufficiently vulnerable for them to fall below
the poverty line.
Livingston (2002) mentions that Malthusians
and neo-Malthusians believe that population
growth is negatively correlated with economic
growth.
RISING NUMBERS, FALLING GROWTH
RATE
From 1901 to 2019
Some economists are of opinion that the
growth rate of population has been declining
and fertility rate dropping and hence there is
no need to control the population. But they
don’t have any concern towards the increasing
number of people despite its declining growth
rate over the years.
The population of India, at the turn of the
twentieth century, was only around 238.4
Economic Challenger// ISSN 0975-1351/ Issue 85, October - December 2019