Law of Diminishing Returns

There is an economics law of diminishing returns. an example of this law in economics textbooks is: fertilizers will at first increase crop production but there will come a time when adding more fertilizers will no longer increase the production. land has reach its limit of productivity.

land is a limited resource. just as there is a limit to the number of sardines you can pack in a can, there is also a limit on the number of people that can live on land. when the population in pinas was about 40 million, i read a newspaper article on an economic study (by NEDA??) with a prediction that the standard of living in pinas will worsen when the population exceeds 60 million. i don't know if that is true today but surely pinas cannot support a population of 1 billion as in china.

like fertilizers, technology can at first increase production of goods. but eventually when natural resources have reached their limit of productivity, technology can no longer improve the economy.

at present, pinas cannot produce enough rice to be self-sufficient even though rice technology is at her doorsteps, i.e., IRRI (internationa rice research institute) is in los banos. pinas needs technocrats who can apply technology and this takes time to educate them. the RH bill will buy that time before population has reach the critical point, as it is done in china. a mechanical engineer who can REPAIR but cannot DESIGN machines is just a mechanic, not a professional engineer.

nature will not allow man or other creatures to overpopulate the earth. when the popuplation has reached the critical point, the death rate will be more than the birth rate. if diseases and natural disasters will not increase the death rate, crimes and wars will.