ABSTRACT
In the DCs, the long-run growth of the economy could be constrained by the supply of labour and here an increase in population growth rate might raise the rate of economic growth. Historically, if it is pointed out that the 'unprecedented rise in population' led to the emergence of the industrial revolution (Hicks 1957: 302). Since necessity is regarded as the mother of invention, the logic of such an argument is not difficult to understand.
