Season 1 · Episode 418
The Old Age Liability
Governments the world over don’t have an answer about how to cope with an ageing population. At some point soon they’ll be forced to rethink their approach to ’fiscal conservatism’
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
August 28, 202439m 13s
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Some call it the silver tsunami. The wave of old people putting pressure on government budgets. And, as baby boomers retire and young people produce less and less children, western populations will continue to age. That means less productive capacity and more people dependent on welfare. On today’s podcasts Phil & Steve talk through the three options open to governments: flood the country with younger migrants to pay more tax, pay less and create a cohort of elderly poor, or rethink the idea that budgets have to balance. The last one is always quickly dismissed.
Hosted on Acast. See acast.com/privacy for more information.