- Population structures are key in shaping an economy’s success
- Historically, population structures have been pyramid-shaped with few retirees at the top, and many children at the bottom
- After World War II, child mortality has dropped and lifespans have increased, transforming population structures into a ‘chimney’-like shape
- This ‘chimney’ economic model is characterized by a balanced number of children, young adults, mature adults, and retirees, leading to a steady, balanced economy
- Now, many countries are facing an inverted pyramid population structure, where there are more people in the 50s, 40s, 30s, 20s, and teens
- This inverted pyramid leads to a lack of consumption and production, and a need for countries to export and import goods
- Countries can either increase their birth rate, or borrow other people’s kids through immigration policies in order to maintain a balanced population structure
Click HERE for original. Published December 27, 2022
