Around the world, people are living longer and having fewer children, leading to a population that is older, on average, than in the past. Most academic discussion of this trend has so far focused on potential problems it creates, including challenges to pension systems, economic growth, and healthcare costs. But according to this study, population aging and the compositional change that go along with it—such as increasing education levels—may turn out to have many positive impacts for society.
The Advantages of Demographic Change after the Wave
