If the population does not grow above replacement level, that means the average age of the population will get older and older, like in Japan where the average age is now ~48 years old. That means a greater percentage of the population is retired, i.e. does not work. This is economic doom. That's why countries worry a lot about birth deficits.
If the population does not grow above replacement level, that means the average age of the population will get older and older, like in Japan where the average age is now ~48 years old. That means a greater percentage of the population is retired, i.e. does not work. This is economic doom. That's why countries worry a lot about birth deficits.
This makes sense now. Thanks @alexanderalexis for the clarification. It’s good to have you here.