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When there's more retirees and elderly people than younger workers to support them, how do you think our economic systems are going to survive?
by magduf 7y ago
When there's more retirees and elderly people than younger workers to support them, how do you think our economic systems are going to survive?
- hedora 7y agoAutomation continues to reduce the fraction of people that need to work. Also, we won’t need nearly as much new construction, which frees up a ton of workers. I don’t think an aging population is likely to lead to labor shortages any time soon, at least in the US.
- rpiguy 7y agoNo one is talking about a labor shortage! The problem is a consumer shortage. Automation only makes it worse. Aging population with a shrinking population means less people to buy goods. Automation means less people employed. This is bad for growth. Economic expansion requires increases in production and consumption.
- masonic 7y agoBy keeping older adults working and stopping age discrimination.