Absent action, younger people will inherit lower economic growth and shoulder the cost of more retirees. This could lead to increased working hours and pressure.
Tesla CEO Elon Musk stated, 'Population collapse due to low birth rates is a much bigger risk to civilization than global warming,' emphasizing the urgency of the demographic crisis.
The authors suggest that a combination of more workers, longer working hours, and higher productivity will be necessary to maintain economic standards for future generations.
Grantham noted the situation in Japan, which faces significant demographic challenges, illustrating the tangible effects of a declining birth rate on economic sustainability.
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