As one of their year-end announcements, The Centers for Disease Control reported the U.S. birth rate at 1.86, below the replacement level of 2.1. There have already been grumblings about how a lowered fertility rate nationally will have an adverse impact on American economic growth.
While fertility can indicate social and economic health, it's simply wrong to conclude that economic growth drops in parallel with fertility. Set this CDC data against the Transamerica Research Center (TRC) data that has just come out - which illustrates how the baby boomer generation is revolutionizing retirement. Taken together, one gets a different, more nuanced view of economic growth in our 21st century. It's not just about babies - but adults.
Sustained drops in fertility will indeed create a world with more "old" than "young," but this is a potential level for growth if the oldies are still active, engaged, and productive. Here are seven things the pundits keep missing about "population aging" and economic growth.... Read more
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