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This won't work and it is fine. Nothing is permanent, world population has fallen considerably in other times in history. Yeah, the GDP will probably drop, but
by elzbardico 2y ago
This won't work and it is fine. Nothing is permanent, world population has fallen considerably in other times in history.
Yeah, the GDP will probably drop, but necessarely the per capita GDP. Yeah, a falling GDP is not good news for people who lend money and expect compound interest over a long horizon of time, some defaults will happen, probably we would end up having to forgive some debts and writing off a lot of stuff, but so what?
- space_fountain 2y agoA large class of people who loan money are people looking to fund a retirement. This will be devastating to them
- EZ-E 2y agoI'm sure financial engineering will find a way to make it work in the end
- space_fountain 2y agoRetirement is about having other people take care of you. If there are less people overall there are less resources to care for the elderly who aren't working. With expanding populations this is easier to manage because the fraction of people who are elderly is smaller, but it can be a huge drain if that changes. This is about resources and no amount of financial engineering can solve it, though financial engineering will probably keep people off the streets
- ekianjo 2y agoRetirement will be a thing of the past soon enough so the problem will solve itself.
- yoyohello13 2y agoPeople seem to be downvoting this but it’s true. We are entering a dip in population growth. Shit happens. We will come out the other side. Did they think “infinite growth” would be a sustainable strategy? Hopefully we will come up with an economic system that’s more focused on human fulfillment than productivity.