It should be noted that high dependency ratios are only a problem becasue most run some sort of social security Ponzi scheme that requires new workers to support retired workers.
If such schemes weren't in place in the first place, individuals would think much more about personally saving for retirement---end of crisis.
In fact, without government ponziment, it is very likely that the standard of living across the globe would increase as workers would save more, adding to the capital base that could create greater amounts of goods and services.
"In fact, without government ponziment, it is very likely that the standard of living across the globe would increase as workers would save more"
ReplyDeleteWell there is that thing about negative interest rates...