As the political economist Nicholas Eberstadt once put it, “a shrinking, aging world is something that we're intuitively, almost completely unprepared to encounter, because all of our experience, in ways that we don't even think about, has been framed by a growing world population.”
Nowhere is this more true than in the discipline of economics. The great well of economic theory that we are familiar with was all written during times of population growth. We are about to enter uncharted territory, and my guest today argues that demography is now the most fundamental force shaping our economic future.
The demographer Paul Morland is a former Associate Research Fellow at Birkbeck, University of London, and a Senior Member at St Antony's College, Oxford. His previous books include 'The Human Tide' and 'No One Left.' He is the co-author, with Philip Pilkington, of a new book titled 'Bust: The Economics of Population Decline', which argues that depopulation triggered by low birth rates is already transforming our economies, not only in the developed world, but everywhere.
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