The Intelligence from The Economist Not born yesterday: the world’s ageing population
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Jun 7, 2023 
Tom Wainwright, Technology and media editor at The Economist, delves into the promising yet uncertain future of Apple's Vision Pro headset, debating its real-world applications and market potential. Catherine Nixey, the Britain correspondent, highlights the revival of British seaside towns, exploring their historical significance and how changing travel preferences may foster their resurgence. Together, they navigate the challenges of a diminishing global population and the innovative solutions required to sustain economic growth amid aging demographics.
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Falling Birth Rates
- Global birth rates are falling below the replacement rate of 2.1, impacting even high-fertility regions like Africa.
- This decline, unprecedented since the Black Death, will lead to a shrinking global population and serious economic consequences.
Economic Impact of Aging
- A shrinking, aging population leads to slower economic growth and difficulties supporting pensioners, impacting both public and private retirement plans.
- This necessitates later retirements, higher taxes, and lower returns for savers, ultimately straining government budgets.
Impact on Innovation
- Aging populations cause a relative shortage of "fluid intelligence" in younger workers, hindering disruptive creativity and innovation.
- This, combined with older voters potentially prioritizing policies against economic growth, risks economic stagnation.