Malthusian theory fails, Beckerian theory succeeds. But sadly, many in the industrialized world still teaching those in the developing world the danger of population boom, and thus ask them to control the size of their families.
In a 1993 paper Gary Becker found that population growth, when studied in the light of human capital theory, leads to multiple equilibrium points: an underdeveloped steady state with high birth rates and low levels of human capital, and a developed steady state with low fertility and high stocks of human and physical capital. He concluded that this means that history and luck are critical determinants of a country’s growth experience.
Thus, population growth is not the only determining factor in economic development as the Malthusian theory has predicted. Furthermore, he stated that training and educational programs together with physical capital investment are the important factors. He then concluded that developed countries with negative fertility rates and undeveloped countries would benefit from an expansion of both the pool of human capital and strengthening of the family as the principal promoter of education and quality of life.
And yet the oldest institution of the family is now under attack from many in the name of human rights and non-discrimination.