By Arnold Kling
The International Economy Magazine collects twenty opinions on the issue of demographic change in one issue. For example, Michael Boskin writes,
The United States is in far better shape to deal with these issues than the bulk of the developed world. Our fertility rate is near replacement and we are less hostile to immigration than Europe or Japan. We will have two workers per retiree (down from the current three), whereas much of Europe will have only one, and a much higher median age. Europe and Japan start from a considerably lower per capita income, a far less flexible and dynamic economy, and (in Europe) much more bloated welfare states in which a majority of the voters may soon be net income recipients from the government rather than net taxpayers.
There are a number of interesting perspectives offered, but the theme that the U.S. faces relatively less severe changes is echoed by many.
For Discussion. Does the gradual nature of the aging of the population make it easier or more difficult to adjust to the challenges?