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Consequences of Declining Birth Rates on Society
Declining birth rates lead to severe economic and social repercussions. A significant drop in population, as seen in Detroit, results in diminished tax revenue, causing city bankruptcy and crumbling infrastructure. The shrinking workforce adversely affects pension systems and healthcare, particularly impacting older generations as fewer workers are available to support their needs. Furthermore, reduced numbers of young people stifle entrepreneurship and innovation, leading to fewer firms and breakthroughs in research and development. This decline in youth affects educational systems, as evident in South Korea, where a sharp fall in birth rates means that universities will face empty seats and may have to close. Communities will experience trauma from the closures of essential institutions like hospitals and schools, which will reverberate throughout society, necessitating significant adjustments that communities may be unprepared to handle.
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