ABSTRACT
The resulting rise in demand for goods does operate to increase consumer surplus as defined and, consequently, may eventually make economically feasible particular projects that would, in the absence of population growth, remain economically unfeasible. In fact, population growth and growth of per capita real income are the two components of aggregate economic growth and, together, contribute over time to the apparent growth of social benefits arising from any investment project that is currently undertaken. Having adopted some acceptable pattern over time of aggregate economic growth, he must then determine the way in which this economic growth will affect the magnitude of the benefits conferred by the goods that are to be produced by the investment project(s) under examination. As for growth in per capita income in the absence of population growth, the increase in the usage of such newly created assets is less certain.
