When Fewer Is Better
Judging by the lamentations of economists and policymakers in the advanced economies, where people are living longer and birth rates have fallen below replacement levels, one might think that a shrinking population is a bad thing. In fact, the benefits of demographic stability – or even decline – outweigh any adverse effects.
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LONDON – Is a shrinking population always a bad thing? Judging by the lamentations of some economists and policymakers in the advanced economies, where people are living longer and birth rates have fallen below replacement levels, one certainly might think so. In fact, the benefits of demographic stability – or even slight decline – outweigh any adverse effects.