Editing Malthusianism (section)

=== Modern formulation ===
[[File:Oded Galor pic.jpg|left|thumb|[[Oded Galor]]]]
The modern formulation of the Malthusian theory was developed by Quamrul Ashraf and [[Oded Galor]].<ref>{{Cite journal |last1=Ashraf |first1=Quamrul |last2=Galor |first2=Oded |date=2011 |title=Dynamics and Stagnation in the Malthusian Epoch |journal=[[American Economic Review]] |volume=101 |issue=5 |pages=2003–2041 |doi=10.1257/aer.101.5.2003 |pmid=25506082 |pmc=4262154}}</ref> Their theoretical structure suggests that as long as higher income has a positive effect on [[reproductive success]], and land is a [[limiting factor]] in resource production, then technological progress has only a temporary effect on income [[per capita]] (per person). While in the short run technological progress increases income per capita, resource abundance created by technological progress would enable population growth, and would eventually bring the per capita income back to its original long-run level.

The testable prediction of the theory is that during the Malthusian epoch technologically advanced economies were characterized by higher population density, but their level of income per capita was not different from the level in societies that are technologically backward.