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Po River Basin Map
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Map Po River for Other classical liberals. Thomas MALTHUS (1776 1834) argued that high wages and high prices tended to limit population growth, while low wages and low prices were likely to increase population. However, if population increased, as it was bound to, wages would settle at the subsistence level. Workers were happiest, Malthus thought, when high wages and high prices were accompanied by an increased demand for labor. Under these circumstances, workers were able to buy food and perhaps some of the luxuries of life. John Stuart MILL (1806 73) defined profit as the difference between wages paid to laborers and the value of the product produced by the laborer. Because Mill, like other classical economists, believed in the idea of scarce resources, he initially argued that there was a limit on the amount of total wages that it was possible to pay. Map Po River 2016.