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As a thought experiment: What happens if a society stops having children? Eventually all of the adults become too old to work. They might have money in the bank
by mikem170 7y ago
As a thought experiment: What happens if a society stops having children? Eventually all of the adults become too old to work. They might have money in the bank, but there's nobody to grow food, pick up the trash, etc.
The concern in this conversation is that with declining birth rates and increased life expectancy there either needs to be an increase in worker productivity or a drop in living standards. In 1950 there were 16+ workers contributing to social security per beneficiary, in 2013 there are less than 3 [1].
I'm not sure what to think about measures of our productivity gains in that time. Is worker productivity measured based on GDP? Does that account for the difference between food and entertainment? Maybe young people in the future will not have the money for as many toys. What about crumbling infrastructure? And increased government debt? The young of today live in an world that is economically and demographically quite different than a couple of generations ago.
Your argument that everyone got a free ride for their first 18 years doesn't account for the above concerns.
[1] https://www.ssa.gov/history/ratios.html https://www.ssa.gov/history/ratios.html