If you look at falling fertility rate within the demographic transition model, an economy will first enjoy a time where the number of dependent to the working a

If you look at falling fertility rate within the demographic transition model, an economy will first enjoy a time where the number of dependent to the working age population will decrease (demographic transition), meaning that people will enjoy higher standard of living, economy will have excess capital for growth, and everyone is happy. Decades later, the number of dependent to the working age population will increase again (demographic aging), in which the unfortunate reverse will occur, and people will start sounding the alarm, and it's 2 decades too late to anything about it. The vintage-futurism economic dream of 10 hour workweeks will be tough to achieve if we need many in the working age population taking care of the elderly.