Darrell Bricker, CEO of Ipsos Public Affairs and co-author of "Empty Planet: The Shock of Global Population Decline," discusses the global population decline and its economic implications in a recent interview. According to Bricker, fertil…
Darrell Bricker, CEO of Ipsos Public Affairs and co-author of "Empty Planet: The Shock of Global Population Decline," discusses the global population decline and its economic implications in a recent interview. According to Bricker, fertility rates are dropping, leading to accelerated population declines since 2016-2017, even earlier than anticipated in China. This trend has significant consequences for economies that rely on people for growth and labor.
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The global baby boom generation will reach retirement age by 2030, causing a rapid impact on the workforce. Countries like Japan and Italy already experience annual population declines. The UN offers three population projections: high variant (14 billion), medium variant (10.4 billion by 2100), and low variant (8.6 billion). Bricker notes that the median variant, representing the UN's projection, assumes a replacement rate of 2.1 children per woman.
Environmental chemicals could impact hormonal disruption in fertility rates, but Bricker attributes the primary cause to cultural and psychological factors, such as humanity's changing perspective on creating future generations. Additionally, immigration and adapting to the birth rate of one's country of residence are common.
Declining global fertility rates and population growth present challenges for the economy, as consumerism and consumption decrease with aging populations, leading to slower economic growth. Governments face political challenges when attempting to address these issues by pushing back retirement ages. Countries like Japan, Italy, Portugal, Spain, and Hungary are already grappling with significant population declines.
Bricker acknowledges that the degrowth movement sees human activity as harmful to the planet and suggests fe..
