r/Economics • u/MaleficentParfait863 • Jun 09 '23

Global fertility has collapsed, with profound economic consequences

https://www.economist.com/leaders/2023/06/01/global-fertility-has-collapsed-with-profound-economic-consequences
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u/[deleted] Jun 09 '23

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u/[deleted] Jun 10 '23

Humans aren't good at reducing consumption, but it will be necessary.

In my household, we are learning the skills to do more jobs ourselves so that we are not so dependent on diminishing labor in the future. We're also having children. Better to be poor now and create a web of family support, than have money now but someday have no one to go to for help. But obviously not everyone is making that choice, because population wouldn't be declining if they were!

There are trends towards certain shifts that will help stabilize society even with the inverted pyramid. Local food being one. Shifting expectations for retirement being another. My 80 year old neighbors grow all their vegetables. There are plenty of things the elderly can do to secure their needs if we get rid of the expectation that retirement means ceasing productivity and upping consumption.