Hello friends and I hope your day is doing great.
In my last post, I talked about the economic bad effect of increasing population.
Like I said in the other post, whatever have disadvantage also have an advantage.
Most of the time the increasing population is talked about, the aspect of the economic good effect of increasing population is always neglected as many people always believe that increasing population did not have any good effect to the economy which is not true.
As an Economist and assessing it, it can be deduced that economic good effect is attached to increasing population.
So today we will be looking at the economic good effect of increasing population.
Do we really know that increasing population also has it's own good conseqeunce.
It has the effect of increasing the size of the labour Force in the long run if we are to study it. And with the increase in the size of the labour Force, all things being equal output would increase and the standard of living of the people is likely to increase. If output increase, it will surely touch and provoke the standard of living of the people to increase.
Another good consequences or should I say effect rather of increasing population is that in the long run, the number of taxable adult would increase and this would increase the revenue of the government through the payment of income tax. When more tax are coming in, the government revenue will increase due to the Income from the tax payment by the increasing population.
Increase in population could also increase the demand for the goods used by children. This would necessitate increase in the production of such goods.
Such increase in production would be worthwhile since there would be ready market for the product.
Also, if we are to look at it very well, increasing population has the effect of increasing the strength of the national army in the long run. And this will be a big advantage to the Country.
However the extent to which the strength of the army will increase depend on the willingness of people to join the army and how well-equipped the army is. If someone is joining the army with willingness, the commitment produce or let me say dedicated to it will be much more greater and effective than when forced to join the army.
The phenomenon could create the opportunity for the country to gain technical knowledge depending on whether the increase is partly caused by the presence of foreigners in the country.
Let's look at this way, if such foreigners are skilled workers they could impact technical knowledge into the nationals of the country in which they are present.
We will be stopping here for today and continue next time.
Thank you for dedicating your time reading this post and if you have any suggestions, ideas or contribution towards the post, please don't hesitate to drop it in the comment section below.
Thank you.