In a fictitious developing country named Ariana, the government has employed two economic advisors: Dr Steven Smith and Dr Catherine Jefferson. The government has asked for their advice on how to improve the standard of living for the people of Ariana. Dr Smith believes in the legacy of the Malthusian model whereas Dr Jefferson follows Solow's school of thought. Dr. Smith strongly recommends the government of Ariana to decrease the population growth rate; Dr. Jefferson advised the government to leave the population growth rate as-is but to increase the capital accumulation of Ariana.

Answer rating: 100% (QA)

Based on the given scenario lets analyze the perspectives of Dr Steven Smith and Dr Catherine Jefferson and provide recommendations for the government of Ariana to improve the standard of living for i... View the full answer