Why ageing and declining populations are not all doom and gloom.
In Britain and most other countries today, the birth rate has fallen below replacement levels – usually defined as 2.1 babies per woman. Fertility first fell below replacement levels in about 1973, and since 2010 has fallen steadily to about 1.55 babies per woman. In a few countries, including China and Japan, there have already been absolute population declines.
These trends are now prompting a lot of doom-laden commentary from demographers, economists and politicians. They claim that an ageing population, with ever-fewer working-age people supporting ever-more retirees, is creating an unsustainable burden for society.
