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Malthus Had It Backwards

Blog Post | Health & Demographics

Malthus Had It Backwards

Resources grow much faster than population if people are free to innovate.

Summary: Thomas Malthus predicted in 1798 that population growth would outstrip food production and lead to collapse. However, he did not check his model against reality. Using data from England, this article shows that food abundance actually grew faster than the population during the 18th century.


A version of this article originally appeared in Gale Pooley’s Gale Winds Substack.

Using an untested hypothetical model, Thomas Malthus told the world in his 1798 An Essay on the Principle of Population to expect collapse. He cloaked his model in mathematics instead of empirical evidence. He noted, “Population, when unchecked, increases in a geometrical ratio. Subsistence increases only in an arithmetical ratio.” See Figure 1. To ensure that he had the illusion of math on his side, he condescendingly added, “A slight acquaintance with numbers will show the immensity of the first power in comparison of the second.” If Malthus had checked the price of bread over the previous century, he would have realized that his model was flawed.

The figure illustrates the Malthusian model, where population grows exponentially while resources increase at a linear rate.

Between 1700 and 1798, the population of England increased from 5.2 million to 8.44 million, or 62.3 percent. Over the same period, nominal gross domestic product (GDP) per person per year increased from £12.37 to £23.97, or 93.8 percent, according to Appendix A in The Story of Bread by Ronald Sheppard and Edward Newton. The nominal price of a four-pound loaf of bread increased from 5.2p to 7.4p, or 42.3 percent. The ratio of bread to GDP per capita declined from 0.42 in 1700 to 0.31 in 1798 or 26.6 percent. See the Table below.

The figure shows the growing abundance of bread in England between 1700 and 1798.

This suggests that for the time required to earn one loaf of bread in 1700, an Englishman would get 1.36 loaves in 1798. Bread had become 36.2 percent more abundant at the personal level (relevant equation is [(0.4204 ÷ 0.3087) – 1] = 0.362 = 36.2%).

Bread abundance for the whole country is equal to personal bread abundance multiplied by population. As the population of England increased by 62.3 percent, bread became 36.2 percent more abundant, suggesting bread had become 121 percent more abundant for the country (relevant equation is [(1.362 x 1.623) – 1] = 1.21 = 121%). For every 1 percent increase in population, bread abundance was increasing 1.94 percent. See Figure 2.

The figure shows that the abundance of bread grew faster than the population between 1700 and 1798.

As shown in Figure 3, the size of the English bread resource in 1798 was much higher than in 1700.

The figure shows that personal bread abundance in England was greater 1798 than 1700.

England began to enjoy more and more freedom to innovate in the 1700s. This innovation shows up in bread abundance. Humans are supremely adaptable and clever. If they have freedom, they will always create more resources for themselves and everyone else.

Lesson learned: Test your hypothetical models against reality. Maybe you’ll be much less frightened of the future.

Cornell SC Johnson College of Business | Food Consumption

GLP-1 Adoption Is Changing Consumer Food Demand

“We examine how consumers modify their food purchases after adopting appetite-suppressing GLP-1 receptor agonists, such as Ozempic and Wegovy. Using survey responses on medication adoption linked to transaction data from a representative U.S. household panel, we document the prevalence, motivations, and demographic patterns of GLP-1 adoption. Households with at least one GLP-1 user reduce grocery spending by 5.3% within six months of adoption, with higher-income households reducing spending by 8.2%. While most food categories see spending declines, the largest reductions are concentrated in calorie-dense, processed categories, including a 10.1% decline in savory snacks. In contrast, a small set of categories show directionally positive changes, with yogurt experiencing the only statistically significant increase. We also find an 8.0% decline in spending at fast-food chains, coffee shops, and limited-service restaurants. These food demand adjustments persist through the first year of medication use, though with some attenuation after six months.”

From Cornell SC Johnson College of Business.

Blog Post | Food Prices

McDonald’s Abundance Serves the World

The premier American brand has sold a trillion burgers.

Summary: With plausibly up to a trillion burgers sold worldwide, McDonald’s has become one of the most recognizable symbols of abundance and convenience. Its cheeseburger now takes far less work time to afford than in the past, reflecting broad gains in prosperity. McDonald’s has grown into a cultural touchstone, serving communities across the globe.


In 1948, McDonald’s offered nine items on its menu. This helped simplify operations and lower costs. McDonald’s stopped officially counting its hamburger sales after surpassing 100 billion burgers in 1994. However, based on recent estimates of roughly 75 burgers sold every second—or approximately 2.36 billion per year—the total number of burgers sold by McDonald’s is likely in the hundreds of billions, with some sources suggesting McDonald’s has already sold its trillionth burger.

My favorite McDonald’s item is the cheeseburger. It’s been my top choice since 1973, when McDonald’s first came to my hometown. This product will provide you with 300 calories, 15 grams of protein, 31 grams of carbohydrates, 13 grams of fat, and 720 milligrams of sodium. I think it’s delicious and a great food value.

In 1948, entry-level workers were earning around 66 cents an hour. A 19 cent cheeseburger would cost them around 17.4 minutes. Today they’re $1.99 and entry-level food service workers are earning $18.67 an hour, putting the time price at 6.4 minutes. The time price has dropped by 63 percent: You get 2.7 cheeseburgers today for the time price of one in 1948.

Today, with over 41,800 stores in 118 countries and global sales of $130 billion, chances are, wherever you go in the world you can find the Golden Arches calling you. Approximately 93 percent of the restaurants are owned and operated by independent franchisees, which has made many of them millionaires.

Chris Arnade has written extensively about how important McDonald’s is to American culture. He has a PhD in physics from Johns Hopkins University and worked for 20 years as a trader at an elite Wall Street bank before leaving in 2012 to become a photojournalist. His writings include many beautiful photographs that reveal the central role McDonald’s plays in many communities. Please take a few minutes to enjoy his work here.

Writing this has made me hungry. Time to add to that trillion burger count.

Find more of Gale’s work at his Substack, Gale Winds.

Blog Post | Labor & Employment

From Muscle to Mind: Earn More with Fewer Calories and Fewer Deaths

Office workers use 77.8 percent less energy and experience a 95.3 percent lower fatality rate than construction workers.

Summary: Work has changed dramatically over time, shifting significantly from physical to mental labor. Today, office jobs demand far less physical energy and carry far lower risks of injury or death compared to physically demanding trades. This transition shows how progress has allowed us to create more value with less strain on our bodies—and with far greater safety than workers of the past could have imagined.


Economist George Gilder points out that using blue-collar hourly wage rates to calculate time prices underestimates the gains we’re enjoying in an economy that’s no longer driven by muscle but by mind. Knowledge workers earn more in an hour, consume fewer calories, and risk far less death or injury than other workers. In other words, they do far more with far less. This is the true compounding of progress—and we can see it mapped on a single chart.

Calories Per Hour of Work

I asked several AI models about the number of calories per hour that different kinds of work require and this is what I got:

The energy demands of physical work versus knowledge work reveals a dramatic difference in caloric expenditure. Workers in physically demanding jobs burn significantly more calories than do their office counterparts:

High-energy physical work:

  • Construction tasks such as masonry or hanging sheetrock: 400–500 calories per hour (equivalent to running or high-intensity aerobics)
  • Heavy lifting and transport: 285–300 calories per hour for a 170-pound worker

Moderate physical work:

  • Manufacturing: 228 calories per hour (men), 180 calories per hour (women)

Office work:

  • Standing desk: 186 calories per hour for a 170-pound person
  • Sitting desk work: 100 calories per hour

As we transition from working with atoms to working with knowledge our bodies require a lot less energy to perform that work. Moving from construction work to sitting at a desk in an office requires 77.8 percent fewer calories per hour. Put another way, the calories needed to fuel one construction worker can power 4.5 office workers. The result is an economic system that creates more value with less resource consumption.

Fatal work injury rate

The Bureau of Labor Statistics reports on fatalities on the job:

Farming, fishing, and forestry are the most dangerous professions at 24.4 fatal injuries, with transportation and material moving at 13.6, and construction and extraction at 12.9. Office and administrative support are the least risky professions at 0.6. Farmers, fishermen, and loggers are more than 40 times likely than an office worker to be killed on the job. Moving from construction work to sitting at a desk in an office reduces the risk of a work fatality by 95.3 percent. Adjusted for population size, construction workers experience a work-related fatality rate more than 21 times higher than that of office workers.

And it was much worse in the past—something that we tend to forget when looking at present statistics. In 1900, deaths in the mining and oil extractions fields (lumped under mining) was estimated at 333 per 100,000 workers and remained that high through the 1920s. We can hardly comprehend just how good we’ve got it now.

Calorie-fatality index

If we combine these two factors into a calorie-fatality index and compare the construction and office industries, we note that office work is 99 percent lower than construction work on the index. Moving from blue-collar construction work to an office job indicates an overall improvement factor of 96.75 (or 9,575 percent) on the calorie-fatality index.

Find more of Gale’s work at his Substack, Gale Winds.

World Health Organization | Food Consumption

Breastfeeding in Indonesia on the Rise

“In Indonesia … The rate of exclusive breastfeeding among infants under six months has steadily increased, rising from 52% in 2017 to 66.4% in 2024. However, many infants are not exclusively breastfed for the full six months – the duration required to achieve the full health benefits.”

From World Health Organization.