A population is in Malthusian equilibrium when all of its production is used only for subsistence. Malthusian equilibrium is a locally stable and a dynamic equilibrium.
See also Thomas Malthus — See this article for further exposition. An Essay on the Principle of Population Malthusian growth model Malthusian trap Population dynamics
References Pingle, Mark (Winter 2003), "Introducing Dynamic Analysis Using Malthus's Principle of Population", Journal of Economic Education, 34 (1): 3–20, doi:10.1080/00220480309595196