Evaluating a 19th-Century Economic Prediction
A prominent economist in 1820 stated: 'Any attempt to improve the material condition of the lower classes is futile. A temporary increase in their wages will only lead them to have more children, and in a generation, their descendants will be just as poor as they were, only more numerous.' Critically evaluate this statement using the core principles of the economic model that describes a 'vicious circle of poverty' in pre-industrial societies. In your answer, explain why an economist of that era would find this conclusion logical and inevitable.
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