In most developed countries – including the US, Europe, Japan etc. the elderly population is growing rapidly, while the portion of young working people is shrinking.
In Japan there are already more diapers sold for elderly than for infants.
This basically means that there are fewer and fewer young working people available to pay for more and more elderly.
And the worst is yet to come.
So what are the options to pay for the boom of elderly? Raise taxes for those that work – substantially? Reduce pensions radically? Or perhaps borrow enormous amounts of money and increase the national debt?
Doesn’t sound that tempting, does it?
Luckily there is one more option. We can increase the amount of working people in countries that have growing amounts of elderly.
How is this possible?
Convincing people to have more children will always be a challenge, so the only option remaining is to welcome young people from other countries to come and work.
Basically lowering the national borders and increasing immigration.
This generally leads to less unemployment and less social problems in the countries that the immigrants come from.
A more free flowing globalized world – where people can move to wherever there is work – is simply the best way to ensure that we and our parents can have a pleasant life at old age.
This is just one out of many reasons why we believe that globalization is the best way to make this planet a better place.