Population growth is slowing or reversing just about everywhere in the country. That has enormous implications for our future economy and prosperity.
There’s a split among observers as to whether migration will rebound and increase, or continue at lower levels. But with birth rates falling around the world, including in the developing countries, Americans can’t be guaranteed a return to the high immigration levels of years past.
Source: America’s Demographic Winter
The more I learn about this topic, the more I realize that most of the country, and its leadership, is stuck in the past.
In the ’60s, the US began to be overrun with growth (post WW2).
In the ’70s, we had the ’73/’74 OPEC oil embargo. Limits to growth. The population bomb. Silent Spring. Earth Day.
All of today’s leaders are have their brains stuck back then and are oblivious to what is happening the past 20+ years and what will continue to happen for decades to come: the incredible shrinking population bust.
We are still pursuing policies based on the assumption of ever-growing populations – that means pursuing projects and spending money on projects that may be ill advised now.
How do we get more people on board to see that times have changed, dramatically?
How will we manage the challenges of shrinking populations, declining school enrollments, declining university enrollments, labor shortages/high wages, fewer care givers for a large baby boom cohort that is aging?
Will a declining population mean lower economic growth and opportunities?
Will it result in younger generations making excess tax demands on older generations?
Plans to import workers from abroad may fail if only because almost all countries are now seeing declining populations – while simultaneously seeing greatly improved standards of living.
Is anyone even asking about any of this?