4 ms·
Since you said capacity is fixed _at a given point in time_, this is technically true but not really useful. Populating aging happens over time, not all at onc
by nimbleplum40 4y ago
Since you said capacity is fixed _at a given point in time_, this is technically true but not really useful.
Populating aging happens over time, not all at once. Overall production also changes over time. It’s not inherently true that for “non-producing” (not sure exactly how you’d define that) people to consume goods the “producing” people must consume less, at least not relative to past levels of consumption.
- akavi 4y agoYou're right, it's not necessarily true relative to past levels of consumption. But there's a limit to economic growth, and the choice of "paygo" vs "investment" probably only has marginal effects on the rate of economic growth, so the point stands. "Non-producing" people are retirees (as well as children). People who don't produce market goods/services that make up the vast bulk of our material needs.