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Don't Worry About Peak Oil, Worry About Peak Youth
#9
(05-23-2016, 04:55 PM)X_4AD_84 Wrote: And I wish ppl would stop fretting about population growth leveling off. For Chissake, there's these things called robots..

Yeah but robots don't buy iShits, timeshares, a new car every 3 years, booze, you name it! And most importantly, they don't pay taxes, especially Social Security and Medicare taxes.

Nope, but given that demand for X=(A,B,C...) is constrained only by the population [as you've mentioned].  More elderly will increase health care good/sevices at the expense of Ishits, timeshares, and new cars every 3 years, then that's just a demand shift. The actual problem can be stated as a reduced #people in the tax payer zone.  So that there is the only supply/demand constraint as it comes to tax dollars.  Now since the population structure is a novel force on the economy, a new policy wrt economics is needed so the taxpayer population isn't overwhelmed. MMT would be the novel economic policy to deal with the novel economic force. There also needs to be a upper limit to money printing. A good , but not perfect measure would be the cost of energy produced in K Joules. The price of each K Joule of energy produced should be bound by a limit so inflation/ deflation can be kept within bounds. Deflation will be OK, once all of our current debt washes out. The idea that perpetual population growth is needed needs to go out the window because the earth can't deal with what we have now, let alone any more people. IOW, if the human population starts to decline by our volition, then mother nature won't have to oblige with some epidemic/famine/whatever.
---Value Added Cool
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