Quote of the Day
People who see the declining population as a good thing tend to ignore the difficulties it will create. Let’s begin with the fiscal havoc. The federal government continues to spend more than it taxes, causing its debt to spiral upward. A low birth rate means more retirees and fewer workers to support them — more people entitled to Social Security and Medicare, but fewer taxpayers — worsening the debt. Even if we were to rein in the debt, a shrinking, aging population means more non-working people wanting to buy things with their savings, but fewer people to produce them, causing rampant inflation. As Stanford economist Charles Jones puts it, declining population has profound implications: “Rather than continued exponential growth, living standards stagnate.”
June 18, 2023
We Need More Babies
There are solutions other than more babies.
Robotics and AI will increase productivity. Anti-aging therapies will reduce the number of retirees and increase the number of projected workers.
But just because there are multiple potential solutions doesn’t mean the realization of any of the solutions will be successful.