The actual cost of worsening demographics

Some slow-burning societal issues, such as the demographic challenges facing Western economies, receive little attention from policymakers. Strategies to address demographic decline often risk upsetting most European poli­ticians, who prefer to focus on short-term issues that are more likely to affect their careers. Some may consider this a cynical perception of what is wrong in today’s democratic politics. Still, the medium- and long-term costs of ignoring the demographic time bomb are being underestimated. An ageing population and slower labour force growth...