The key aspect of demographic health for economic growth is understanding the number of working-age people and their proportion to the overall population. A decline in the working-age population, such as in China's case, can lead to significant challenges for economic growth, even if the country is highly productive. Historical cases, such as the Black Death, demonstrate that a decrease in population can lead to increased value for low-wage workers, potentially leading to positive socioeconomic impacts. However, for future population trends, there may be opportunities to offset the impact through increased productivity driven by advancements such as AI. Ultimately, the changing demographic landscape poses a unique challenge for future economic growth.
Let’s say you have a big goal for 2024, financially or personally. What happens after you reach it? Morgan Housel is the best-selling author of “Same As Ever” and “The Psychology of Money”. Dylan Lewis caught up with Housel for a discussion about:
- Setting up processes, not resolutions for the new year.
- The biggest significant economic story (that’s already known).
- What early criticisms of cars, airplanes, and AI have in common.
Host: Dylan Lewis
Guest: Morgan Housel
Producer: Ricky Mulvey
Engineer: Rick Engdahl
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