4 ms·
Also, its like saying the economy will shrink, which may be true, but not necessarily that the per capita economy will shrink. Obviously Japan -- for example -
by georgeecollins 4y ago
Also, its like saying the economy will shrink, which may be true, but not necessarily that the per capita economy will shrink. Obviously Japan -- for example -- can function as a nation with a fraction of its current population. Less labor is good for people who sell their labor, but bad for people who buy labor (capital).
- ztrww 4y agoGDP per capital will shrink if the proportion of the working population declines.That’s pretty obvious > people who buy labor so basically everyone unless you grow your own food etc.?
- georgeecollins 4y ago>> GDP per capital will shrink if the proportion of the working population declines.That’s pretty obvious Only if productivity / price of labor is constant. Which it isn't over time historically.