The influence of Malthus' theories was substantial. Among others, he developed a theory of demand-supply mismatches which he called "gluts." Considered ridiculous at the time, as it violated Say 's Law which basically stated that supply creates its own demand, his theory was a precursor to later theories about the Great Depression, and to the works of admirer and economist John Maynard Keynes . Malthus has also been admired by, and has influenced, a number of other notable economists, including David Ricardo with whom he maintained a long lasting friendship but opposite thinking on economics.
Sacred to the memory of the Rev Thomas Robert Malthus, long known to the lettered world by his admirable writings on the social branches of political economy, particularly by his essay on population.
One of the best men and truest philosophers of any age or country, raised by native dignity of mind above the misrepresentation of the ignorant and the neglect of the great, he lived a serene and happy life devoted to the pursuit and communication of truth. Supported by a calm but firm conviction of the usefulness of his labours.
Content with the approbation of the wise and good. His writings will be a lasting monument of the extent and correctness of his understanding. The spotless integrity of his principles, the equity and candour of his nature, his sweetness of temper, urbanity of manners and tenderness of heart, his benevolence and his piety are still dearer recollections of his family and friends. Born February 14, 1766 Died 29 December 1834.