Debt and changing demographics are intricately entwined.
Any economist who doesn’t include in his analysis of the causes of exhorbitant debt, stagnation, unemployment and declining happiness the unrelenting force of demographic change is doing his profession, and his readers, a disservice.
Judging by the vanishingly small number of economists who take an honest look at demographics, there appears to be a general tacit consensus among them that their field of discipline is not worth servicing well.
Here’s a related post to help clarify.
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