I have been aware of demographic problems since re-visiting central Europe (after a few years away) shortly after the Wall came down. For whatever reason – probably because we were the only people anywhere around who seemed to have children – I suddenly noticed the Europe was the Old World in more ways than one. I became a full-fledged bore about the subject in the early 2000’s after having my eyes opened to the seriousness of not having enough children initially from a popular Canadian journalist. I later was brought up to speed on the financial consequences from a well-known fixed-income NY banker with whom I have corresponded.
Now, in the past few days, it seems more have “got religion”. It only took the NY Times newspaper (David Brooks’ article “The Fertility Implosion”, now unfortunately behind their pay wall) and the Atlantic magazine (“Europe’s Real Crisis” by Megan McArdle – which I recommend) over a decade to catch up with what the international business scholars and others have been saying for years: the high financial cost of the demographic catastrophe we’re all looking at… but welcome to the wake, Mr. Brooks and Ms. McArdle