- Dec 9, 2010
That's only a problem if you assume that there won't be any increase in automation. If automation continue it'll mean that production will increase even without an increase in population. So say you need to ship something using 50 truck, right now you'll need 50 drivers. But with self driving truck you'll only need one or two operator to guide all 50 trucks. So the total productivity is the same, all 50 truck arrive at destination, but you need far less people to do it. So even if population drop massivly, it won't be a problem since automation will more than make up for it.Our economic system relies on the principle that future generations will earn as much or more than preceding ones in order to pay the social security, healthcare and national debts incurred by their forebears.
Not enough kids, the country runs out of money, or the elderly do without care. And the more specific bad news is that when that shit hits the fan, the people who are going to be elderly is likely to be us.
In this sense droping foncondidity is an incredible blessing, cause the alternative scenario is that there's more and more people for less and less jobs, that either gets ugly very quickly or require massive increase in welfare state (universla basic income) which will be far costlier than taking care of elderly.