... Low birthrates and a rapidly aging population are suffocating economic growth and creating enormous political schisms. This is obvious in Europe but just dawning on North Americans. The policy and investment models that worked during the post-war growth era are already failing, and the problem will get worse.
How ironic that the West, which created the innovations responsible for raising the world’s standard of living, has embraced Malthusian pessimism. The solution, as I’ve said before, is not more centralized control. It is more innovation, especially in healthcare.
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