Arrow, Kenneth J.; Dasgupta, Partha; Mäler, Karl-Göran - In: Economic Theory 21 (2003) 2, pp. 217-225
In any dynamic model of the economy with changing population, the latter should properly be one of the state variables of the system. It enters both in the maximand, at least under total utilitarianism, and into the production function in one way or another. If population growth is exponential...
