: Population ageing. As the human race transitions from a burgeoning, exploding species to a static or shrinking one, economies around the world will come under significant strain.
But pronounced ageing like Japan's does come at an economic cost. Every year, a dwindling pool of working-age Japanese people is forced to support an expanding pool of gray-haired consumers. This is why Japan's living standards are falling behind rich countries with growing populations.In concrete terms, this means more adults forced into spending hours doing elderly care, more taxes to pay for pensions and health care, and lower living standards for the elderly.
In the early 2010s after Prime Minister Shinzo Abe took office, the Bank of Japan made a heroic attempt to escape deflation, buying up assets at a prodigious, unprecedented pace. And for a while it seemed to work, with inflation rising almost to the 2 per cent target rate. But it soon fell down to near zero again.Some macroeconomists believe that persistent deflation threatens economic growth.
Countries can, and do, try to compensate for population ageing. Old people work longer , and more parents go to work instead of staying home with the kids. Countries also invest in automation; it's no accident that Japan has pushed hard to be a leader in the field of robotics. But unless robots get much better, there's probably a limit to how much these measures can fight the greying tide.
No. far to many countries pushing euthanasia without realising that it will move from the dying.. to in pain. to not want to be here... to we dont want the burden of you anymore. Netherlands is now bringing it in for dying children. it is a form of eugenics and population control
What an insulating article for the millions of older Australian workers who can't get jobs because of age discrimination. Who writes this offal.?